The US Federal Reserve is expected to hold interest rates steady today despite President Donald Trump continuing to pressure Fed Chair Jerome Powell to lower rates. However, rising oil prices due to the Iran war have put a Fed rate hike back on the table. Meanwhile, China plans to release its massive oil reserves to soften the impact.
10x Research Warns Fed Rate Hike, US CPI Rising to 3.4% While China Taps 1.4 Bln Oil Reserves
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