The Fed meeting was not a guess if they were to raise rates, but how much they will raise rates. Estimates were ranging from .50% to .75%, but stretched to 1.00% after the inflation reports were released. The .75% increase turned out to be right on the target as expected by the markets. We finished the month with the first estimate of economic growth for the second quarter. The decline of 0.9% was the second quarter of negative growth in a row, clearly an indicator of an economic slowdown. This may give the Fed some reason to think harder regarding additional significant rate increases.