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Powell puts market on notice over heightened risks

US stocks start retreat after Fed chair noted 'elevated' asset prices and threat of trade war

Fed officials, meeting for first time under Mr Powell, raised the benchmark lending rate a quarter-point and forecast a steeper path of hikes in 2019 and 2020.

JUBILATION at Jerome Powell's measured tone in his first policy statement as the chairman of the Federal Reserve faded to trepidation as he highlighted worries about global trade in a press conference.

Mr Powell's Fed boosted the benchmark Fed Funds rate by a quarter of a percentage point...

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