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Do the Fed's Rate Comments Misdirect Target Date Funds?

The Federal Reserve announces Wednesday that it will hold main interest rates for a considerable time after its economic stimulus program ends. Jim Lauder, who is the co-manager of the Wells Fargo Advantage Dow Jones Target Date Funds, tells TheStreet's Joe Deaux that the Fed's back-and-forth on when it will hike rates makes it difficult for managers to handle funds for individuals approaching retirement. The trick, he says, is handling cash in times like these.