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As Rockets Fly Overhead, Residents of Israel's Border City Stay Underground The New York TimesDaily Briefing March 15 — ToI reporter on life under Hezbollah's rain of missiles The Times of IsraelIsraelis near Lebanon border try to maintain normal life despite Hezbollah threat PBS‘There is nothing, no one left': Inside Lebanon's destroyed south where Israel threatens ground invasion The Independent
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Israeli forces kill West Bank Palestinian couple, 2 children; police say car sped at troops The Times of Israel‘We killed dogs': Israeli troops kill two children, parents in West Bank Al JazeeraIsraeli forces kill Palestinian couple and two of their children in occupied West Bank BBC
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Trump news at a glance: president says Iran's Kharg Island ‘demolished' and threatens more strikes ‘just for fun' The GuardianTrump warns of more strikes on Iran's Kharg Island, pressures allies to secure oil chokepoint ReutersOil Market Set for Tumultuous Week as Kharg Attack Raises Stakes Bloomberg.comIran's Kharg Island Attack Triggers Panic In China: Why It Matters To Beijing NDTV
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The Federal Reserve served up a widely expected third consecutive jumbo rate hike when it concluded its regularly scheduled two-day meeting on Wednesday. Chair Jerome Powell and the rest of the Federal Open Market Committee (FOMC) raised the federal funds rate by 75 basis points. (A basis point equals 0.01%.)
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Although the move matched consensus expectations, a significant portion of the bond market - and plenty of traders and tacticians, for that matter - were bracing for a whopping 100 bp rate hike. Uncertainty over just how hawkish the Fed would reveal itself to be has cast a pall on equities over the preceding weeks, and so a rate hike of "only" three-quarters of a percentage point was actually met with some relief. Stocks sold off sharply when the Fed released its statement at 2 p.m. Eastern, but then drifted back into positive territory during Powell's press conference, which began a half-hour later.
Ultimately, however, the major indexes finished in the red. That's because the Fed's bottom line is that inflation is by no means under control. And while there might be ample anecdotal and emotional evidence pointing to the contrary, the economy is simply running too hot. An imbalance in supply and demand in the labor market and related strong real wage growth, snarled supply chains and a rising dollar are just some of the factors confounding monetary policymakers - not to mention corporate revenues and profit margins.
As we've
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