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[marketmaven]

Election won't stop Fed from rate hikes: Prudential FI By Tomi Kilgore
NEW YORK (CBS.MW) - Prudential Fixed Income, the fixed income asset management business of Prudential Financial (PRU) , said investors should not expect the Federal Reserve to hold off interest rate increases just because of the upcoming presidential election. Prudential FI market economist Ellen Gaske said a review of Fed Chairman Alan Greenspan's tenure can actually suggest the opposite is true. "Greenspan does not in fact have a history of staying on hold during election years," Gaske said. "While we expect the Fed to hike rates this year, whatever the Fed decides to do, it will be due to the economic environment and not because of the election on Nov. 2."