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Watch Out for a Fed Pause
Markets are pricing in at least one more interest-rate increase from the U.S. Federal Reserve this year following hotter inflation data and a more hawkish tone from policymakers. Consumer prices rose 3.5% in the year through June, less than markets expected and a slowdown from 4.2% in May, which was the highest annual increase in three years. Meanwhile, new Fed Chair Kevin Warsh has emphasized that restoring price stability is his top priority, and the median projection from Federal Open Market Committee (FOMC) participants points to one rate hike in 2026. Morgan Stanley Research, however, sees a different path. ... (full story)
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The World Cup is over. Well, it is for England anyway. And if, like me, youre still coming to terms with yet another World Cup disappointment, the BBC had some advice this week: Focus on the wins! Not helpful if youre German or Dutch (there just werent very many sorry guys!). And perhaps best not to mention theres always next time to the Italians ...
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