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Fed Update : Fed Officials Marked Up Growth, Inflation Outlook in January

Fed Update : Fed Officials Marked Up Growth, Inflation Outlook in January

Federal Reserve officials agreed last month that a strengthening economic growth outlook bolstered their plans to keep raising short-term interest rates this year.

Fed officials late last month believed the economy was set to grow faster than they when they met in December, according to minutes of their Jan. 30-31 meeting.

After the December meeting, Congress approved tax cuts that were slightly larger than officials had anticipated. Stocks also rose to new highs in the month before the January meeting, likely giving an additional boost to economic growth, they thought. Stock markets convulsed in the days following the January meeting.

Impact : Medium
Sentiment : Good for Dollar

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