A Financial Earthquake?

<p>Just a week ago, on May 3rd the Federal Reserve Open Market Committee adjourned their latest meeting, and announced to the world that they were raising the Fed Funds rate to 5 1/4%, the highest rate since 2007. The feeling around here was, ho hum, another rate hike following a long line of hikes. Most people feeling that “at least they didn't hike rates any more.”</p>