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Released Fed Minutes Spur Stocks (Bloomberg)
Today, the U.S. Federal Reserve’s late-April meeting minutes were released, indicating that Fed officials believe continued stimulus does not risk an increase in the inflation rate. Stocks rose on the news. “There were no big surprises in the Fed minutes,” Darrell Cronk, deputy chief investment officer at Wells Fargo Private Bank, said. “There was more of the same and that means more dovish statements. We continue to think the domestic equity markets will climb higher. The fundamentals are good.”
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