Word: wainwright
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Dates: during 2000-2009
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...Funds rate has inched up 1.75%, to 6.50%, since June of last year. David Ranson of Wainwright Economics in Boston looked at 45 years of data and discovered that after a period when the Fed raised rates at least 1%, the market did not respond well for the next year. The Standard & Poor's 500 index has had an average gain of about 13% since 1955. Yet historically the year after the Fed has raised rates, the S&P actually produces below-average returns of about 8%. Then the market gets a big boost the second year out--assuming...