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WATCH: Musk Ultimatum Spurs Twitter Exodus
Hawkish hints from Fed officials, US home buyers get good news and an exodus at Musk’s Twitter.
St Louis Fed President James Bullard upped his view of where the Fed rate should be to between 5% and 5.25%, from 4.75% to 5% previously, stressing this is a "minimal" level. Bullard has been one of the more hawkish members of the FOMC and given the direction of policy this year has also been one of the more influential members. However, the Fed might start to face more resistance from a divided Congress, with Democrats warning about job losses, while Republicans continue to stress the importance of price stability.