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Will Interest Rates Go Up in 2022? Don’t Bet on It.

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November 28, 2021
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Now that Jerome Powell has been nominated to a second term as Federal Reserve chairman, markets think they know what they are getting. They might be mistaken.

In picking Powell, President Joe Biden gave investors what they wanted: a central-bank head they know, like, and believe they can count on to act as a type of mystical dove, at once leaving monetary policy ultraloose while maintaining price stability. But a reality check is in order.

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