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September rate hike just the surprise move the Fed hoped to avoid
One argument against a September rate hike is that it would be just the surprise move the Federal Reserve had hoped to avoid. For months, Fed officials have said they want to be transparent about their monetary tightening game plan, with the hope that by telegraphing their intent to raise rates for the first time in nearly a decade, the central bank would mitigate any disruptions in financial markets. But August’s wild swings have tripped up the U.S. central bank, for the September meeting at least. In May, William Dudley, the president of the New York Fed, said the central bank’s conditions for a rate hike were ... (full story)