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Fed Meeting Decision Looks Baked, But Outlook Is Far From Certain
Seven weeks after the Federal Reserve raised the benchmark U.S. interest rate for the first time since 2018, the central bank is set to hold its third meeting of the year as monetary policy makers struggle to contain inflation.
The two-day, closed-door meeting is likely to contain few surprises, since Fed Chair Jerome Powell has already tipped the likely decision. But crypto traders and counterparts in traditional markets will be watching closely for clues on the central bank’s future plans, with some economists now worried about the prospect of a recession at a time when consumer prices are already rising at their fastest pace in four decades.
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