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Powell Enters Era of Rate-Hike Caution as Growth Headwinds Mount

  • Fed defies Trump by raising rates for fourth time in 2018
  • Policy makers now see two rate hikes in 2019, not three
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Former Atlanta Fed chief Lockhart discusses the FOMC’s decision, financial conditions and his outlook for rate hikes.(Source: Bloomberg)
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Federal Reserve Chairman Jerome Powell suggested he’ll be more cautious about raising interest rates next year, disappointing investors who wanted even more dovishness.

“There’s significant uncertainty about both the path and the ultimate destination of any further rate increases,’’ he told a press conference Wednesday after the U.S. central bank bumped its target range for rates up by a quarter percentage point to 2.25 percent to 2.5 percent.