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Fed will raise interest rates - here’s what it will do to keep market calm

Consumer inflation data does not change outlook for monetary policyFed Chairman Jerome Powell will hold a press conference later Wednesday. The Federal Reserve will raise its short-term target rate while trying to keep markets calm by signaling future interest-rate hikes will come at an “unhurried” pace. The Fed, which ends two days of talks Wednesday , will make few wrinkles because “it is in a good spot,” said Ellen Zentner, chief U.S. economist at Morgan Stanley.