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The Federal Reserve's rate decisions have huge implications for the economy, the stock market and consumers.
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If the Fed strategy turns out to be sound—with the bank instability largely contained and inflation falling—a truly systemic financial crisis will have been avoided at relatively low cost, in terms of financial market wreckage or inflation.
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The Invesco QQQ Trust, which tracks the technology-heavy Nasdaq-100 index, finished lower following choppy trading after the Fed announced its rate hike.
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Patrick Carroll, whose company manages $7.4 billion in assets, likens Wednesday's Fed rate hike to another punch in the gut for the real-estate market.
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U.S. stocks finished sharply lower in volatile trade on Wednesday after the Federal Reserve raised interest rates by another 25 basis points, but indicated rate cuts this year aren't expected.
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