Inflation and China Covid rules ease two heads of the dragon slayed

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U.S. Federal Reserve Board Chairman Jerome Powell takes questions from reporters after the Federal Reserve raised its target interest rate by three-quarters of a percentage point to stem a disruptive surge in inflation, during a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, June 15, 2022.

Elizabeth Frantz | Reuters

The stock market initially soared Tuesday after a softer-than-expected report on November consumer prices gave investors hope that the worst of the decades-high inflation might be behind us. While that may still be the case, equities later gave up most of their gains ahead of the Federal Reserve’s highly-anticipated interest rate decision Wednesday afternoon.

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