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https://www.wsj.com/economy/central-banking/how-higher-rates-for-longer-can-be-good-news-for-the-economy-9e13cf36Fed Chair Jerome Powell on Wednesday said the central bank will leave its benchmark interest rate unchanged, marking the second consecutive meeting with no increase. Photo: Kevin Lamarque/Reuters
Federal Reserve policy makers appear disinclined to raise interest rates again. But neither do they expect to be cutting rates soon, and when they eventually do, they don’t think they are going to be cutting them by all that much. This higher-for-longer prospect has been unsettling for investors, and is part of why long-term interest rates have risen so much over the past several months. But if Fed policy makers are right about their ability to keep rates high—and it is a big if—thenThis copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law.
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