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Jerome Powell Ditches ‘Transitory’ Tag, Paves Way for Rate Hike

  • Fed chief tells Congress he’s open to faster bond-buying taper
  • Markets see a hawkish turn, more chance of early rate rises
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WATCH: Federal Reserve Chair Jerome Powell admits that it is probably time for the central bank to stop using the word “transitory.”Source: Bloomberg

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Team Transitory is throwing in the towel.