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Fed: It’s 3 and Out for Rate Cuts; No Mas and No Reversal Seen

The Federal Reserve took some bows last week in the relatively safe halls of the Democratically controlled Congressional House of Representatives, where President Donald Trump’s tweeting thunderbolts have no sway.

In two separate appearances before House committees, Fed chairman Jerome Powell made clear that the Federal Open Market Committee (FOMC) was going to stand pat after three rate reductions this year to the Fed funds rate. Done and done. Effectively, Powell said that current interest-ra...

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