Fed acts while Congress talks Jan 6 and guns

The long-awaited action by the Fed’s Federal Open Market Committee (FOMC) was announced on Wednesday, and as markets had begun to suspect, the base interest rate was increased by 75bps. Until the release of the hot CPI and the University of Michigan consumer confidence numbers, markets were banking on 50bps, based largely on Chair Powell’s comments after the May FOMC meeting. Powell has now led forecasters to expect another 75bps hike when the Committee meets July 26-27. The July ...

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