Economic policy

The market read the Federal Reserve all wrong | CNN Business

The market read the Federal Reserve all wrong | CNN Business

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. New York CNN Business  —  After the Federal Reserve’s July meeting, investors quickly reached a consensus: The central bank was turning slightly dovish. After embarking on an aggressive rate-hike spree this year in …

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Surging inflation clears way for biggest Fed hike in years

Surging inflation clears way for biggest Fed hike in years

WASHINGTON — The Federal Reserve is expected Wednesday afternoon to announce its largest interest rate hike since 1994 — a bigger increase than it had previously signaled and a sign that the central bank is struggling to restrain stubbornly high inflation. The central bank is considered likely to raise its benchmark short-term rate by three-quarters …

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