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Fed Instant Reaction: What Do the Dots Say?
The highly-anticipated Federal Reserve Monetary Policy Statement just hit the wires, and there’s plenty for both bulls and bears to digest. Tackling the proverbial “Elephant in the Room” first, the committee chose to keep the “considerable time”[until the first interest rate hike] pledge in its statement. Many market participants thought that the central bank would remove this key phrase to start preparing traders for the inevitable hike, but the inclusion of that statement suggests the initial rate hike may not come as soon as some optimists had hoped. Beyond that one detail though, many of the other new ... (full story)
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