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This, Not the Rate Hike, Spooked the Markets Yesterday

Annie Gilroy
This, Not the Rate Hike, Spooked the Markets Yesterday

The Federal Reserve’s two-day meeting concluded yesterday. The Fed was widely expected to raise rates for the fourth time this year by 25 basis points, and it did. Lately, some doubts had crept into investors’ minds about whether Fed Chair Jerome Powell would go ahead with the hike given equity market weakness and increasing pressures from President Donald Trump and some well-regarded economists.