Veteran market watcher Rutledge weighed in on the recent Fed moves, saying he doesn't think inflation is as much of a problem as the Fed does. As a result, Rutledge is worried the Fed will raise rates to levels at which small investors will be priced out of the credit market. Small investors, says Rutledge, don't get the same borrowing rates as big players like General Motors ( GM) and General Electric ( GE). In terms of equities, Rutledge says to stick with small-caps, even though they have outperformed larger companies over the past five years. To get involved in the small-cap market, Rutledge advises investors to check out the iShares Russell 2000 ( IWM) ETF, as well as the iShares S&P SmallCap 600 ( IJR). If overseas investing is your game, Rutledge says the best way to do it is through funds -- especially if you want to get involved in emerging nations like China. Rutledge's top international ETF picks were the iShares MSCI Pacific ex-Japan ( EPP) ETF and the iShares MSCI Japan ( EWJ). But of course, with America's birthday coming up on Monday, Task also says it's time to reflect and enjoy life in the good old U.S.A.