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Cushman & Wakefield's Ken McCarthy “You want to get ahead of the curve if you’re the Fed,” McCarthy says.

NEW YORK CITY—A modest increase in the short-term federal funds rate was generally expected as an outcome of the Federal Reserve’s December meeting that concluded on Wednesday, and so it came to pass. Arguably more telling were signals in the Federal Open Market Committee’s statement that Wednesday’s quarter-point increase could be followed by multiple increases next year. Not so long ago, there were at most two rate hikes on the Fed’s long-time horizon through 2018.

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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