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FOMC meeting: interest rates lifted for the first time in three years

FOMC meeting: interest rates lifted for the first time in three years

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The S&P 500 index pared intraday gains over the past hour after the U.S. Federal Reserve announced its first rate hike since the start of the pandemic. Fed’s plans regarding the balance sheet Chair Jerome Powell on Wednesday signed a 25 basis points increase in the interest rate that now stands between 0.25% and 0.50%.

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