Upside Ahead?
That will be the real thing to analyze from this meeting. Not the 75 bp increase, but where market expectations are compared to what the Fed is saying. Expectations are very hawkish, and the Fed can come out just as expected and still be more dovish than expected. That likely limits the market downside from this meeting and just may provide some upside going forward.
Brad McMillan is the chief investment officer at Commonwealth Financial Network.