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The Weekly Fix: Early Hikers Are Set to Give Way to the Big Guns

Jerome Powell, chairman of the U.S. Federal Reserve.

Jerome Powell, chairman of the U.S. Federal Reserve.

Photographer: Samuel Corum/Bloomberg

Welcome to The Weekly Fix, where I’ll take you on a globe-spanning rates ride from Wellington to Washington. I’m rates reporter James Hirai.

To hike or not, that was the story for most of the week -- right up until a troubling new coronavirus variant was detected in southern Africa and cast a pall over global markets on Friday.