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ICICI Direct Report
Key Highlights:
U.S. Federal Reserve decided to raise interest rate by 75 basis points to a range of 3.75-4.00% and signalled intention to keep raising them.
The Central bank signalled that magnitude of the hikes may be smaller but may ultimately move to higher levels than anticipated.
Federal Open Market Committee decided to continue its balance sheet reduction as announced in May 2022.
U.S. Federal Reserve Chair Jerome Powell warned that reducing size of rate increased did not mean the Fed thought it was close to pivoting away from raising rates. It is very premature to be thinking about pausing.
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