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Traders on Edge as Fed Looks Poised for Data-Independent Easing
Traders face an onslaught of information about the state of the U.S. economy this week. Nevertheless, they’re likely to take their cues directly from the Federal Reserve, since data have proven a poor guide to the path of policy. Economic reports aren’t dragging the central bank to the interest-rate cut that’s widely anticipated on Wednesday. Numbers due next week are expected to show an uptick in the Fed’s favorite measure of underlying inflation and unemployment staying close to a half-century low. It’s small wonder, therefore, that the prospect of the U.S. central bank’s first easing in more than a ... (full story)