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The Fed’s Powell Admits “I Don’t Know What We’ll Do” in 2023
The Fed’s Powell Admits “I Don’t Know What We’ll Do” in 2023
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The Federal Reserve’s Federal Open Market Committee (FOMC) on Wednesday announced it will raise the target federal funds rate by 50 basis points, bringing the target rate to 4.5 percent. Wednesday’s rate hike followed four hikes in a row of 75 basis points, and is the smallest rate hike since March. According to the FOMC’s press release, the committee voted unanimously for the half point hike, pointing out that “[price] inflation remains elevated” while also dogmatically (and wrongly) placing the blame for a year of 7-point-plus price inflation on “supply and demand imbalances related to the pandemic” and “Russia’s war...
Source: https://www.newswars.com/the-feds-powell-admits-i-dont-know-what-well-do-in-2023-2/
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