The Federal Reserve’s move to raise its benchmark interest rate for the first time in nearly 10 years isn’t expected to have much of an effect on middle-market M&A activity, but subsequent rate hikes could.

The central bank voted Dec. 16 to raise its benchmark interest rate by a quarter of one percent, to between 0.25 percent and 0.5 percent, and it has signaled that it will continue to gradually wean the economy off the historic stimulus it fostered over the last seven years.

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