As expected, Chair Powell of the Federal Reserve (Fed) all but guaranteed that rates will rise next meeting, and like the Bank of Canada admitted that inflation is persisting. Signalling that they are attentive to wage growth that could put further upward pressure on inflation. Stopping short of pace or magnitude Powell mentioned that interest rate normalization will not be as slow as in previous cycles. The market reacted negatively to the news of a faster rate cycle yesterday with the SP500 trading as high as 4454 prior to the fed announcement then trading down too 4310 to close the day down 0.15% at 4349. Some traders are placing their bets on five interest rates raises this year of 0.25% for a total raise of 1.25% by years end. Investors and borrowers should be aware that the interest rates will be on a rising path, and it will not be over after one raise in interest rates. We should expect the first move in a series of moves to come in March at the next Fed meeting.