The Federal Reserve raised borrowing costs for the fourth time this year, ignoring a stock-market selloff and defying pressure from President Donald Trump, while dialing back projections for interest rates and economic growth in 2019. We break down the news and market reaction with Bloomberg News Global Economics and Policy Editor Kathleen Hays, Bloomberg Stocks Editor Dave Wilson, Frances Donald, Senior Economist at Manulife Asset Management, Jeffrey Cleveland Chief Economist at Payden & Rygel, Steve Blitz, Chief U.S. Economist at TS Lombard, Alex Harris, Bloomberg News Bond Reporter and Jeff Krumpelman, Chief Investment Strategist at Mariner Wealth Advisors. Hosts: Carol Massar and Jason Kelly. Producer: Paul Brennan See omnystudio.com/listener for privacy information.

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“What did the council decide on item 42?” — answered with the speaker and the moment.

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