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📣 The Fed expectedly raised the rate by 0.75% for the third time in a row. The Fed rate now stands at 3.25%. 📣 The Fed Funds rate could reach 5%, some Fed officials believe. The projections are worse than the markets expected. The projected average Fed funds rate at the end of 2022 is 4.4%, up from 3.4% in June. FOMC: Recent indicators point to moderate growth in spending and output. There has been strong job growth with low unemployment. Inflation remains high, reflecting the supply-demand imbalance associated with the pandemic, higher food and energy prices. This is a huge negative for the market. Already, Fed swaps indicate that the rate will rise to 4.6% this year.