June 29-30: FOMC Mania

Stories and commentaries on the Fed's decision to raise interest rates.
Publish date:


Federal Open Market Committee

met in Washington through Wednesday to make the decision Wall Street was aching for. The

Federal Reserve's

policy panel, as widely expected, boosted its target short-term interest rate by 25 basis points, to 5% from 4.75%.

In a more surprising move, the FOMC switched from a policy bias toward more tightenings to a neutral stance.

But there are plenty of questions left unanswered: What does the bias shift really mean? How will the decision affect bonds, P/E ratios, international markets, the major indices? Will


give it a rest already with the briefcase indicator?

You'll find thoughts on almost all of those questions and much more in


package of stories and commentaries on the Fed decision, from previews to the moment of truth to quick reactions.

Friday, July 2

Impact on Investors

What the Fed Fuss Means for Your Portfolio

Cyclicals, growth or bonds? It all depends on whether you believed Greenspan when he shifted the Fed's bias to neutral.

Wednesday, June 30

What Lies Ahead

The Fed's Just Getting Warmed Up

Analysts say the Fed is now on track to reverse its three rate cuts made in 1998.

The Past and Future

*Extra* FOMC Gets It Half Right. Or Is That an Eighth?

Follow the forward-looking line, and don't bother with the Fed's historical gobbledygook.

Reading Between the Lines

Alan Tells It on the Mountain

And The Mouth has an interesting interpretation of the commandments inferred from the Fed's actions today.

Cramer's Take

Humbled by a Happy Fed

Now, Cramer's just going over the slim pickings of the market, but it's enough to get the job done.

Voice Your Opinion

What Do You Think About the Fed Moves?

Take a


poll on the Fed's latest actions.

The Big Decision

Fed Hikes Rates 25 Basis Points and Shifts to Neutral Bias

As expected, the FOMC raised the fed funds target to 5% from 4.75%. Surprisingly, the Fed moved from a bias toward more rate hikes to neutrality.

A Look Southward

Latin American Markets Brace Themselves for U.S. Rate Hike

Rate concerns have already affected stock and bond prices in Latin America.

A Global Perspective

Overseas Fragility Magnifies Fed Effect

The world may not be ready for the Fed to keep its finger on the interest-rate trigger.

Tuesday, June 29

Betting the House

Seeking Shelter From the Rate Storm With REITs

Those with healthy balance sheets will likely fare better than others.

The Trader's View

Accepting a Hike as Inevitable, Wall Street Focuses on Fed's Bias

The Fed is in uncharted territory with its new policy of announcing changes in its bias, and that has market players on edge.

Economics View

The Fed's Pre-Emptive Misfire

Economist James K. Galbraith explains why the Fed's attempt to charm rates upward is doomed to fail.

The Bubble Economy

Swollen Valuations May Deflate as Bond Yields Top Out

The combination of an earnings recovery and a rebound in bond prices could signal a time to exit large-cap growth giants.