The Presidential Daily Brief


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    Asia, Dollar Rally After Fed Hikes Interest Rates

    Janet Yellen has earned herself some new fans across the globe. The Federal Reserve chair announced a historic interest rate hike yesterday, moving away from seven years at near zero and lifting the benchmark to between 0.25 and 0.5 percent. Markets across Europe and the Americas cheered, followed by rallies in Asia. But today, things looked less rosy — Wall Street fell at the opening bell, dampening Europe’s cheer even as some investors applauded the upward move, which Yellen says will continue gradually over the next three years.

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