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Fed Obsession Not Healthy for Investors

Many investors have made big decisions based on conventional wisdom and predictions about the Fed that turned out to be wrong.

Eric Jacobson: The Federal Reserve decided not to raise interest rates in mid-June 2016, a decision that came as little surprise by the time it was made. In fact, Treasury yields moved very little following the meeting.

Investors haven't generally been that prescient over longer periods, though, and the Fed's decision casts a spotlight on just how wrong conventional wisdom has been over the past several years.