Fed Signals Potential for More Rate Hikes to Control Inflation, Despite Pause at Last Meeting
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Fed officials said more rate hikes may be needed to curb inflation, though it was paused at the last meeting.
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The Fed has raised rates steadily since March 2022, now at a 22-year high.
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Traders don't believe more hikes are coming soon based on market data.
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Inflation is cooling from peak levels, leading some economists to think further Fed action may not be needed.
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Fed Chair Powell took a hawkish tone, saying the Fed won't hesitate to tighten policy further if inflation persists.