For the majority of the summer, the debate over whether the Fed would raise rates and when they would has hung over the heads of investors. Most are expecting the rates to rise before the end of the year but are less confident of how soon. While readers are betting on December for a rate hike, after Yellen’s speech at Jackson Hole yesterday, there is greater market optimism that this rate rise will take place rather soon. The immediate point taken from Yellen was that the case for a rate rise “has strengthened in recent months”. Markets dropped and rose again quickly in the wake of her comments but the markets will have time to properly respond next week. Another key point was Yellen noting how low interest rates give policymakers very little real control.