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Powell, sounding a lot like Yellen, promises rate hikes and little policy change

Powell, sounding a lot like Yellen, promises rate hikes and little policy change

As if markets needed any more persuading that the Federal Reserve is about to raise rates, the likely next Fed chief provided a little more ammunition.

During his Senate confirmation hearing Tuesday, Jerome Powell did not commit definitively to a December rate hike, but strongly hinted that the likelihood is growing. In doing so, he also indicated that markets can expect more of the same from Fed leadership, even though there will be a new person in the chair position.

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