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European Shares Struggle For Direction Amid Fed Rate-path Uncertainty
(RTTNews) - French stocks struggled for direction on Wednesday as investors braced for a hawkish message from the Federal Reserve at this week's Jackson Hole symposium.
Lingering worries over U.S. rate hike plans weighed on sentiment after Minneapolis Federal Reserve Bank President Neel Kashkari said the Fed needs to be more aggressive to control inflation.
He expects the Fed to need to lift its policy rate, now at 2.25-2.5 percent, another two full percentage points by the end of next year.
Investors also await minutes of the ECB's last policy meeting, which might provide additional hawkish signals.
The benchmark CAC 40 was marginally lower at 6,356 after closing 0.3 percent lower the previous day.
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