Asian markets to focus on Fed's third rate hike of the year; US dollar slides [CNBC]
Churchill Capital Corp V Class A (CCV)
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Source: CNBC
Asian markets to focus on Fed's third rate hike of the year; US dollar slides U.S. stocks were mostly higher ahead of Asia's Thursday trading day after the Federal Reserve raised interest rates for the third time this year. The Fed raised interest rates by a quarter point on Wednesday, in a move that was widely expected by markets. That increased the central bank's target range to between 1.25 percent and 1.5 percent. Also of note, the Federal Open Market Committee raised its GDP forecast from 2.1 percent to 2.5 percent. Its inflation forecast was raised from 1.6 percent to 1.7 percent. U.S. consumer prices released on Wednesday had shown an acceleration in November, with the CPI rising 0.4 percent . The core CPI, which excludes food and energy prices, rose just 0.1 percent from a month ago. Meanwhile, House and Senate Republicans came to a tentative agreement on their tax plan . The deal will cut the corporate tax rate to 21 percent, CNBC as reported earlier. The dollar was broadly
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