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Stocks fall after Fed says it's too soon to pause rate hikes

Por: Los Angeles Times Business November 03, 2022

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Stocks fell sharply after Federal Reserve Chair Jerome H. Powell signaled that interest rates will need to go even higher than previously thought in order to tame the worst inflation in decades. The Fed also raised its benchmark rate by three-quarters of a percentage point Wednesday, its fourth consecutive hike of that magnitude and its sixth this year. Markets had initially rallied after Fed policymakers suggested in a statement that they might... + full article



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