(Bloomberg) — Federal Reserve Chair Jerome Powell is raising interest rates at the steepest pace in a generation and he said Wednesday that another big increase is possible. Yet investors sent stocks surging on his comments that the hikes will eventually slow.
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Some Fed watchers say markets read Powell’s press conference too narrowly.
Economists pointed out that the Fed’s top focus remains curbing inflation, even if it comes at a cost to employment, the other side…
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