News24 | Izak Odendaal | Dogs, cockroaches and Table Mountain: Interest rates explained
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US Federal Reserve chair Kevin Warsh’s predecessor, Jerome Powell, came under intense pressure from the White House to cut rates. For Warsh (pictured) to increase rates seven weeks before the midterm election is therefore brave, but it helps that he had unanimous support from the Open Market Committee.
Al Drago/Bloomberg via Getty Images
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