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Fed Act – Congress looks to Democrats agenda – Biden focuses on Mideast and China

The long awaited action by the Fed’s Federal Open Markets Committee (FOMC) was announced last week, and as markets had begun to suspect, the base interest rate was increased by 75bps.  

At his press conference after the rate hike announcement Chair Powell said the following; “Clearly, today’s 75 basis point increase is an unusually large one, and I do not expect moves of this size to be common.  From the perspective of today,either a 50 or 75 basis point increase seems most l...

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