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US Federal Reserve keeps interest rates on hold at 5.25-5.5%
05:16
US
US Federal Reserve keeps interest rates on hold at 5.25-5.5%
Markets are rallying across the board today, Hong Kong is leading gains with the Hang Seng up more than 1%. After 11 rate hikes by the Federal Reserve, markets had widely anticipated the decision to stay put, keeping the fed funds rate to its highest level in more than 22 years. There was uncertainty, though, about how ambitious the FOMC might have been regarding policy easing. And that was a pretty ambitious dot-plot there: 3 cuts in 2024 and 4 in 2025. Following the release of the decision, the Dow Jones Industrial Average jumped more than 400 points
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