'Fed-Calmed' Canaries In Coalmine Keeling Over

'Fed-Calmed' Canaries In Coalmine Keeling Over

In the late summer months of 2015 the Federal Reserve were actively discussing the possibility of raising the Federal Funds rate signaling a reversal of their prolonged, zero-interest rate, crisis management attitude towards monetary policy. The prospects of rising U.S. interest rates occurring while many central bankers were actively lowering interest rates and/or printing upset the global financial markets. In mid-2014 when this policy divergence was first suspected by market participants, the U.S dollar started rising against most currencies. The trade weighted broad dollar index rose approximately 15% from mid-2014 to mid-2015.

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