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Fed Chair on Rate Rise
New York Federal Reserve President John Williams said further interest-rate increases are likely, emphasizing that inflation remains elevated and the economy and labor market are strong. He did not specify the timing or size of the next increase, but said the Fed must continue working to bring inflation sustainably back to its 2% target. Markets expect a quarter-point rate hike at the December meeting, followed by another in January. The target range is currently 3.75% to 4%.
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