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Should the Fed raise interest rates?

America is leaning towards a change in the monetary regime

By George Magnus  

The Eccles Building in Washington, D.C., which serves as the Federal Reserve System's headquarters. © Jbarta

This week, the Federal Open Market Committee, the policy-making body of the US Federal Reserve (Fed), is scheduled to hold a much anticipated two-day meeting. Just weeks ago, there was a common expectation that the Fed would raise interest rates for the first time since June 2006, and initiate a policy tightening cycle for the first time since…

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