Here Comes the Fed, Here Comes the Fed!
The big news of Thursday happened after the market closed. If you aren't yet aware, the Federal Reserve announced right after the market closed that they were raising the discount rate. The discount rate is the rate the Federal Reserve charges its member banks for emergency loans. The move immediately caused an already overbought (short term) US Dollar to spike to the upside. The increase in the discount rate doesn't really affect the US Dollar directly, however may be viewed as a preview to higher interest rates. As soon as the news was announced, the S&P
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