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Fed Officials Say They Might Raise Rates Again—Market Participants Aren't Buying It
Officials at the Federal Reserve said they might raise the central bank’s benchmark interest rate over its current 22-year high—but financial markets participants, for the most part, don’t believe them. Federal Reserve chair Jerome Powell was among several Fed officials who spoke Thursday, emphasizing that the Fed merely paused—not ended—its campaign of anti-inflation interest rate hikes when it kept rates flat at its latest meeting last week. The Fed could squeeze inflation, and the economy, harder with more rate hikes if inflation doesn’t fall toward the Fed’s goal of a 2% annual rate, Powell and ... (full story)