Rate Hike Pause is Good News for Leveraged Closed-End Funds The Federal Reserve held steady on interest rates last week, not long after Fed chief Janet Yellen indicated officials would “proceed cautiously.”  This could benefit leveraged closed-end funds.  These funds tend to be more volatile than other financial products, Binyamin Appelbaum explains, but they may be a smart investment for people with a long-term focus. To read the full article in The New York Times, click: Fed Keeps Rates Steady and Says Labor Market Is Improving.