<p>You think that’s crazy? Ben doesn’t. After Friday, he’s more terrified than ever. Sure the dollar went up a little, but so did gold, oil, and stocks, and that’s not supposed to happen when the Fed raises rates. No, when rates go higher, it’s supposed to mean slower growth ahead, and less opportunity for investment. The only real exception to this rule is the anticipation of inflationary price increases — in which case markets don’t appear to care about slower growth, because investors are more focused on the likelihood of weakening currencies. In this case, markets anticipate higher prices and move up in spite of higher rates.</p>
