Political headlines are coming at an alarming pace. In spite of this, markets were relatively quiet last week which left U.S. equity prices little changed. Treasury yields moved slightly lower as the dollar weakened; our dynamic yield curve is beginning to flatten. Oil prices also declined for a fourth straight week. Nevertheless, the Federal Reserve remained on track to slowly normalize monetary policy. As expected, the Fed funds rate rose by 25 basis points to 1.0%. Additionally, the Fed hinted at the likelihood of one more increases before year-end. Normalizing the country’s balance sheet should be viewed as a positive. However, it wasn’t long ago that our Fed vowed to raise rates only when inflation reach higher levels. To date, that has not happened.