An aggressive market expectations trap and a strict aversion to forward guidance have backed the Fed chair into a corner, where failing to deliver a hawkish message risks destroying the central bank’s inflation-fighting credibility. Bitcoin fell nearly 3 percent to $75,800 ahead of the Federal Reserve’s rate decision, after the Senate’s defeat of the Clarity Act weakened another potential source of support. Markets have nearly fully priced in a quarter-point rate increase and expect further tig…
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