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    Summary of today's FOMC meeting: The labor market remains too strong

    From the 2 PM EST release: Raised the benchmark policy rate by 25 bps to 4.75-5.00% Reiterated the 2023 terminal rate of 5.00-5.25% Lowered expected 2023 unemployment rate to 4.5% from 4.6% prior Raised expected 2023 inflation (core PCE) to 3.6% from 3.5% prior, risks are to the upside Lowered...
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