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- Markets took mixed cues from the Fed, which kept rates steady as widely expected after a meeting on Wednesday.
- Fed Chair Jerome Powell said that the central bank was in no hurry to cut interest rates further, amid concerns over sticky inflation signs of resilience in the U.S. economy.
- Powell also reiterated the bank’s independence from politics, amid multiple calls from Trump that the Fed cut interest rates further.
- While markets took some relief from Powell’s comments, the prospect of rates remaining high for longer presents more near-term pressure on speculative assets.
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