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Tuesday, October 3, 2023

Why stock-market bulls can’t celebrate as Fed hints at pause in rate hikes

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Stock-market traders were in no mood for subtlety Wednesday.

The Federal Reserve and its leader, Chair Jerome Powell, left the door open to a halt in rate increases after delivering, as expected, a 10th straight hike that lifted the fed-funds rate to a range of 5% to 5.25%, its highest since 2007.

To be sure, Powell emphasized that the decision…


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