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The Federal Reserve Bank of Cleveland projects that inflation will accelerate in September, driven by the ongoing conflict with Iran and the resulting disruption to global energy supplies.
This outlook suggests that the Federal Reserve may continue to raise interest rates, a move that poses a direct challenge to the stock market and the valuation of technology companies.
16, the Federal Open Market Committee raised the federal funds target rate by 25 basis points to a range of 3.75% to 4.00%. This was the fourth time in this century that the Federal Reserve began a rate-hiking cycle.
Fed Chair Kevin Warsh and his colleagues acted to address inflation that has remained above the central bank's 2% target for 66 months. While official September data is not due until Oct.
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