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Washington ‘dysfunction’ won’t stop Fed from hiking interest rates in June
The various White House scandals won’t stop the Federal Reserve from raising short-term interest rates next month, economists said Thursday. Analysts said they were not swayed by the fall in Wall Street expectations for a rate hike on Wednesday. Fed funds futures fell along with U.S. stocks on concerns that President Donald Trump’s pro-growth legislative agenda was in jeopardy. “I’m pretty sure the decline in federal-funds futures is in response to things the Fed doesn’t care about,” said Thomas Simons, an economist at Jefferies. “I don’t think they are concerned with a general dysfunction in ... (full story)