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Fed signals at least two more 25-point hikes

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  • St. Louis Fed President Alberto Musalem said additional monetary tightening will be needed soon.
  • Dallas Fed President Lorie Logan warned the FOMC needs at least two more 25-basis-point hikes.
  • The Federal Reserve kept its policy rate at 3.75%–4.00% after a 10-2 vote.
  • Governor Lisa Cook and Cleveland Fed President Beth Hammack dissented, favoring a quarter-point rate increase.