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Understanding Fed policy: Some mysteries cleared, plot thickens on others

The Fed chairman announced that he'll soon start giving press conferences every -- rather than every other -- policy meeting

US Fed chief Jerome Powell
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US Fed chief Jerome Powell

Jeanna Smialek I Bloomberg
Jerome Powell gave Federal Reserve-watchers some meaningful answers on Wednesday. He also left them scratching their heads over ever-bigger questions.

The Federal Open Market Committee closed out its June meeting by raising interest rates and suggesting it’ll hike twice more this year, and the Fed chairman announced that he’ll soon start giving press conferences every -- rather than every other -- policy meeting.

Powell Lauds Economy as Fed Nudges Up Interest-Rate Hike Path

Yet if one theme ruled the day, it was an optimistic uncertainty. Unemployment is low, inflation is stable, and the Fed is progressing along its rate-hike path,