Following the policy team's last meeting, the Fed increased interest rates by 75-basis points for the fourth consecutive time. The committee chair and head of the Fed Jerome Powell sent markets into a tizzy in his ensuing press conference. Chair Powell said the ultimate level of rates will be higher than previously expected.
The odds of the FOMC increasing rates by 50 basis points at the meeting on Dec. 14 appear to be 76%, according to the CME's FedWatch tool.
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