As was widely expected, the Federal Reserve raised interest rates by 25 basis points on Wednesday, marking it's first interest rate increase in a year. During a news conference that followed the Fed meeting, Chairman Janet Yellen repeatedly discussed the strength of the economy, which impressed Brad McMillan, CIO of Commonwealth Financial Network. He noted its been a long time since the Fed talked about a "strong economy," and he also believes economic trends are moving in the right direction. With the economy expanding, McMillan also believes the stock market rally can continue. McMillan also noted Yellen went to great lengths to avoid talking about potential implications to the economy from a Trump presidency.
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