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US stocks rally, dollar falls on bets for rate hike slowdown | Economic Times

US stocks rally, dollar falls on bets for rate hike slowdown https://ift.tt/HuDmg3M Fed is pushing up rates to cool the sharpest inflation since the 1980s and signaled "ongoing increases" in borrowing costs may still be ahead despite evidence of a slowing economy. Powell told reporters it will likely be appropriate to slow the pace of increases as rates get more restrictive and that the Fed wants to get to moderately restrictive levels by year-end.
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