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Markets Are Betting That Good Things Come in Threes—Especially Rate Cuts
video Is three the magic number? Celebrity deaths occur in threes, so people say, and comedy depends on trios. In journalism there's a well-worn saying that 'three makes a trend.' But how about when it comes to interest rate cuts? Since the mid 1990s, the Federal Reserve has depended on its own rule of three: when changing interest rates, that is, they have preferred a run of at least three increases or decreases. It's a practice that seems to have come about from experience: Better a number of small changes to rates to coax the economy to where the Fed wanted it to be rather than bigger changes that could ... (full story)
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