Why Fed’s response to this key question could spark 5% stock-market pullback or ‘solid rally’

Stock and bond investors face a crucial twist Wednesday when the Federal Reserve delivers its interest-rate decision.

“The answer to the question ‘How long will rates stay high?’ will now determine if a Fed comment or decision is either hawkish (bad for stocks/bonds) or dovish (good for stocks/bonds),” said Tom Essaye, founder of Sevens Report Research, in a Tuesday note.

That’s…

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