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Surprise Fed Rate Hike Can't Be Ruled Out; What It Means For S&P 500

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07:30 AM ET 07/28/2026

New Federal Reserve Chairman Kevin Warsh doesn't want monetary policy to be predictable, and he's off to a good start. While most economists expect that the Federal Open Market Committee, the Fed's policy-setting group, will hold its key rate steady on Wednesday, "there is a significant risk of a 25bp (basis point) hike," Deutsche Bank's economics team wrote in a…