Until now, Federal Reserve chair Jay Powell has effectively corralled his colleagues to show a united front at key turning points for monetary policy. However, his job has just got a lot more complicated.
The Fed is poised to raise short-term interest rates by a quarter of a point on Wednesday in what was hoped to be the final rate hike of this cycle. That will push the benchmark Fed funds target to a 5 to 5.25 per cent range.
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