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With Fed poised to act, here's how investors can prepare for higher rates

With Fed poised to act, here's how investors can prepare for higher rates

It has been nearly a decade since investors have had to contend with the Federal Reserve raising interest rates. Or, from savers' viewpoint, it has been that long since the Fed did them a favor. But Wall Street's No. 1 obsession this year is guessing how soon the central bank will start lifting its benchmark short-term rate from near zero — and, more important, how financial markets will fare when that day comes. Predictions of investors' reaction range from Armageddon to a nonevent. Many economists believe the Fed is eager to begin raising rates, if just to give itself some ammo in the event of another crisis. If its key rate were back to 1%, for example,...

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