COMMENTARY
      The Federal Reserve boosted short-term interest rates on Aug. 16, causing a 
      rally in the bond market. Traders were pleased by the decision to hike the 
      federal funds rate by half a percentage point, in the view that the Fed was 
      determined to keep inflation in check. After the action was announced, yields 
      of 30-year Treasuries fell from 7.50% to 7.36%. The Fed's action was 
      appreciated by the stock market as well, and the Dow Jones industrial average 
      climbed 24 points. The dollar fell during the week.
      
      
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