The Fed's Hikes Won't Faze Factories Much

The U.S. factory sector may feel like the lucky student who can hide behind the tallest kid in the class when the teacher is looking for a few knuckles to rap. Manufacturing has long been the Federal Reserve's whipping boy when it comes time to slow down the economy. But this time, factories may avoid much of the pain of this year's round of interest-rate hikes.

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