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Call 'em crazy, but Fed officials likely to keep raising rates
A stock sell-off, rising trade tension with China, slower global growth and verbal pressure from the White House are unlikely to dent the U.S. Federal Reserve’s rate hike plans in an economy performing in line with the central bank’s forecasts. A bumpy 48 hours included an 800 point drop in the Dow Jones Industrial Average and hefty declines in other stock indexes, a forecast of slowing global growth from the International Monetary Fund, and a broadside from President Donald Trump in which he called the Fed “crazy,” “loco,” and “too aggressive” in raising rates. But data since the Fed’s last meeting ... (full story)
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