The Fed continues to execute according to plan. The market had largely anticipated the recent move by the Fed to raise short-term rates by 0.25%.  They liked the more the even-keeled and cautious tone that Fed chairwoman Janet Yellen conveyed in the press conference.  Per Binyamin Appelbaum of the New York Times: Figure 1: Ebullient(adj.) Read more about Baby Steps and Quarter Points[…]