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MARKET WRAP: JSE feels the chill wind of Fed comments

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Officials’ reiteration of hawkish comments puts the brakes on Tuesday's rally that had sent the all share to a record high

The JSE was weaker on Tuesday after Federal Reserve officials reiterated hawkish comments emanating from the US central bank, pausing the rally that sent the all share to a record high in the previous session.

Atlanta Fed president Raphael Bostic and San Francisco peer Mary Daly — neither of whom are voting members of the federal open market committee this year — said higher rates are needed to tackle elevated inflation, according to Bloomberg. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.

 

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