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The Federal Reserve raised its benchmark rate by a quarter point to 0.75%-1%, its second hike in three months, and signaled further increases this year would be gradual. The vote was 9-1, with Kashkari dissenting in favor of no change.
The Fed projected three hikes this year and expected growth of 2.1% in 2017 and 2018.
Higher US rates support the dollar and tighten financing for feedlots, dairies and grain merchants, which can weigh on commodity demand and prices over time.
chicago.suntimes.comAPMar 15, 2017After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
After 18 past neutral macro events, Live Cattle moved a median +0.1% over 5 sessions (61% higher; middle half -1.0% to +1.6%), and +1.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
