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After more than a week of international affairs monopolizing Wall Street’s spotlight, attention shifted back to interest rates as Federal Reserve Chair Jerome Powell telegraphed the answer to one of investors’ most pressing questions – and lit a fire under stocks. In prepared testimony to the U.S. House Committee on Financial Services, Powell said he’s “inclined to support a 25-basis-point rate hike” at the next Federal Open Market Committee meeting, set for March 15-16.
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