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Don't Sweat the Fed: Rate Changes Have No Effect on Investors

September 15, 2015

Common wisdom holds that Federal Reserve policy makes a big difference to equity investors–the Fed represents, many believe, the ultimate market traffic light. If the Fed raises short-term rates, the signal turns red and the market slams on its brakes; if the Fed loosens (by embarking on another round of Quantitative Easing, as Goldman Sach’s Chief Economist, Hatzius is …

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