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Money / Personal Finance

Stock market will plunge if Fed doesn’t hike rates in December, predicts ex-Wells Fargo CEO

Stock market will plunge if Fed doesn’t hike rates in December, predicts ex-Wells Fargo CEO

The Federal Reserve "has" to raise rates because it has telegraphed it will do so  and if it doesn't, the markets will drop because it will seem like the central bank "caved to the president," says former Wells Fargo CEO Dick Kovacevich.

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