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[Tuff-Stuff]

Another jumbo Red rate hike is expected next week - and then life gets
difficult for Powell
October 29

All eyes are on what the Fed chair says about a possible downshift in rate-rise size
in December

Economists widely expect Federal Reserve monetary-policy makers to approve a fourth straight jumbo interest-rate rise at its meeting next week. A hike of three-quarters of a percentage point would bring the central bank’s benchmark rate to a level of 3.75%- 4%.

“The November decision is a lock. Well, I would be floored if they didn’t go 75 basis points,” said Jonathan Pingle, chief U.S. economist at UBS.

The Fed decision will come at 2 p.m. on Wednesday after two days of talks among members of the Federal Open Market Committee.

What happens at Fed Chairman Jerome Powell’s press conference a half-hour later will be more fraught.

The focus will be on whether Powell gives a signal to the market about plans for a smaller rise in its benchmark interest rate in December.
cont at
https://www.marketwatch.com/story/another-fed-jumbo-rate-hike-is-expected-next-week-and-then-life-gets-difficult-for-powell-11666982034?mod=home-page