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Fed Week Ahead: Chances Appear High For Another Rate Hike, But Market Seems Strong
Powell and company ride again this coming week. The Fed takes the spotlight Tuesday and Wednesday in a meeting that investors widely expect to result in another rate hike, the third of the year. Fed Chair Jerome Powell has made it clear he believes the Fed should continue gradually raising borrowing costs, and the futures market appears to buy what he’s selling. As of Friday, CME futures placed rate increase odds at around 94%. Since the Fed usually does such a good job readying investors for a hike, the question is more around what might emerge from the post-meeting release and Powell’s Wednesday press ... (full story)