Two weeks ago, Nick Timiraos, known on Wall Street as the Fed Whisperer, wrote in the WSJ that the Fed’s rate-setters would raise the policy rate another 0.75%, but would likely tame future hikes. On November 2, the Federal Open Market Committee (FOMC) did exactly that. It increased the target rate range by 0.75% to 3.88%, as its Chairman had primed markets to expect, and indicated that future rate increases, if any, would be moderate.
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By Hubert Marleau
By Hubert Marleau