Opening Statement from the October 2016 Dividend Gems

Opening Statement from the October 2016 Dividend Gems

Originally published on October 16, 2016

As we anticipated, the Federal Reserve decided not to raise short-term interest rates during its September 20-21 meeting. To reiterate, based on macroeconomic data alone we believe there is insufficient justification for even a single 25 basis point rate hike in 2016. But we remain fairly confident the Fed will end up raising rates by 25 basis points in December so long as the economic data is reasonable and assuming no major global shock.

In the September issue we reminded readers of