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Federal Reserve’s next move is unclear after bank failures

Unlike recent Federal Open Market Committee meetings, where the market knew what to expect, this week’s could go one of several ways, analysts said.

“Economist and market projections of the likely path of the Fed funds rate are all over the map and appear to be shifting dramatically on a daily basis,” said Scott Anderson, chief economist at Bank of the West.

“The Fed is truly stuck between a rock and a hard place,” said Marvin Loh, senior global macro strategist at State Street, “with strong data still justifying a continuation of the tightening process, while the evolving banking and liquidity crisis calls for a more gingerly approach to the process.”

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