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Yesterday (Wednesday), Money Morning Chief Investment Strategist Keith Fitz-Gerald appeared on CNBC's "Closing Bell"for a roundtable discussion of April's Federal Open Market Committee (FOMC) meeting minutes, released just hours before.
The minutes revealed that in the April 29-30 meeting, committee members had shifted away from talk about quantitative easing – the U.S. Federal Reserve's hot topic of recent years – to instead discuss the challenge of raising interest rates.
You see, U.S. banks are flush with cash right now as a result of the Fed's stimulus. The challenge the Fed now faces is ensuring that its interest rate hikes successfully control inflation by triggering increases in bond yields, bank interest rates, and other borrowing.
Take a look and find out why Fitz-Gerald became "concerned the Fed is underestimating key factors" when he saw the FOMC meeting minutes – and how investors should approach the market in these uncertain conditions:
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