Fed’s message that rates will stay on hold for ‘some time’ clashes with 2023 rate-cut bets

The Fed's statement that rates will remain the same for "some time" stands in direct contradiction to the 2023 rate-cut bets.
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By Craig Torres and Liz Capo McCormick

Federal Reserve Chair Jerome Powell has history on his side as he and colleagues split with Wall Street over how long interest rates will stay high in 2023.

After the fastest tightening of monetary policy since the 1980s, the central bank looks set on Wednesday to increase its benchmark rate by 50 basis points in a downshift after four straight 75 basis-point moves to curb inflation.

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