Fed key rate could hit 5.1% in mild hawkish surprise

Fed key rate could hit 5.1% in mild hawkish surprise

Federal Reserve policymakers expect to raise their key rate to 5.1% next year, a rate higher than what Wall Street expects. The new projections, released at the end of Wednesday’s Fed meeting, were revealed along with an expected rate hike of half a point. The S&P 500 initially reversed sharply lower. Stocks hit lows but …

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