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Figuring out the Fed's next move just got a whole lot easier
The historic outcome of the British referendum to leave the EU is most likely to keep the Federal Reserve dovish for longer. In a record turnout for a UK poll, 51.9% of voters chose to leave the EU versus 48.1% that opted for Britain to stay. The results stunned global financial markets, which had rallied hours before the polls closed with the expectation that "Remain" would prevail. Earlier this week, Federal Reserve Chair Janet Yellen said in her semiannual congressional testimony that a so-called Brexit would have "significant economic repercussions." And on Friday, several economists either lowered their ... (full story)
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