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Lula da Silva's fourth term can boast of the "inheritance received" because while it poses serious challenges, it provides, in the short and medium term, room for maneuver to correct imbalances. Congress will be decisive.
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The Fed announces its decision on October 28 at 18:00 UTC. A hold is the widely discussed baseline, which shifts attention to the details: the vote split, the wording on inflation and how the press conference treats December. This preview sets out four scenarios and the paths each could take into rate expectations, stocks, Bitcoin and gold. It does not predict the decision or any price.
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