Today wraps up the second of eight FOMC meetings happening in 2016. I don’t know that anyone is anticipating a rate hike out of the Fed during their press conference at noon our time. Life is full of surprises though. Take the Consumer Price Index for example; this morning’s year-over-year CPI reading showed an increase of 2.3%. That is the highest YOY increase in the last eight years, even though the index decreased 0.2% from last month…I don’t understand the math there either. Surprise!
Interest rates continue to trend upward.