This week, the Federal Reserve released its view on the economy and the likely trajectory of rates. As you know, we have repositioned fixed income assets to reflect our view that the likely pace of rates will be gradual rather than steep. This week’s statement confirms our view.
The Fed Finally Raises!
Over the last several newsletters, I’ve been detailed and somewhat exhaustive in terms of describing our investment strategy. I think you probably would agree that these long newsletters, while informative, were a bit much in terms of the sheer volume of information.