Financial Review

…Fed hikes rates. The economy is strong, everything is rosy. Stocks drop. ECB says trade wars will hurt US. NAFTA circles the drain. Trump blames China. Financial Review by Sinclair Noe for 09-26-2018 DOW – 106 = 26,385 SPX – 9 = 2905 NAS – 17 = 7990 RUT – 17 = 1691 10 Y – .04 = 3.06% OIL – .24 = 72.04 GOLD – 6.70 = 1195.10   The Federal Reserve raised interest rates for the third time this year and signaled they will raise rates again in December. The Fed announced an increase in the target range for its benchmark interest rate of 25 basis points to 2%-2.25%, setting the Fed funds rate at its highest level since April 2008. All nine voting members of the FOMC voted in favor of the rate hike.   The most notable change in Wednesday’s statement was the removal of language indicating the Fed sees its policy as “accommodative.” In its August statement, the Fed said, “The stance of monetary policy remains accommodative, thereby supporting strong labor market conditions and a sustained return to 2 percent inflation