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FED In Panic: Expected To Double Interest Rate To 4%

At a glance

  •  Chicago Fed President Charles Evans with consumer prices unchanged last month compared to June, but up 8.5% from a year earlier, inflation is still “unacceptably” high, and the Fed will likely need to lift its policy rate, currently in the 2.25%-2.5% range, to 3.25%-3.5% this year and to 3.75%-4% by the end of next year.

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