Monetary marathon day

A cornucopia of central bank action is taking place today. The main event: a rate hike decision from the Federal Reserve followed by a news conference by Chairman Jerome Powell. He's expected to confirm what the Fed strategically implied to a few select reporters earlier this week: a rate rise of .75%. Not to be outdone, the European Central Bank has announced an emergency meeting at which they will "apply flexibility and is working on an instrument to address rising bond yields in some member countries." What does all this mean? We attempt to answer that question in today's show.

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