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Kevin Warsh: High inflation justifies rate hikes
The U.S. Federal Reserve raised interest rates by 25 basis points, signaling the possibility of future increases, in an effort to curb rising inflation. This decision led to a rise in European stocks, while oil prices stabilized. Additionally, Gulf Central Banks responded by raising interest rates to combat inflation, and Qatar’s J.D. Wescor announced expansions of its presence in the UAE.
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