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Fed Votes Unanimously on Interest Rate Hike, First Time Since July 2023
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The Fed has unanimously voted to hike interest rates by 25 bps after holding for five straight meetings. Some Fed governors also guided for one more interest rate hike before the end of 2026. Tom White explains the significance of the FOMC's first hike in over three years as it projects a "timelier" move toward 2% inflation. He adds that the muted stock moves following the report adds credibility to the Fed's stance.
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