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Fed's balance sheet plan, economic outlook under microscope
The U.S. Federal Reserve on Wednesday is expected to hold interest rates steady, shave the number of hikes projected for the rest of the year, and release long-awaited details of a plan to end the monthly reduction of its massive balance sheet. The U.S. central bank since early this year has signaled a “patient” approach to increasing borrowing costs, drawing an end to a gradual, three-year cycle of monetary tightening marked by nine rate hikes, including seven during the 2017-2018 period. Investors now put a 75 percent probability on the likelihood the Fed won’t raise its overnight benchmark interest rate, or ... (full story)