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A Fed official called the stock market's plunge 'small potatoes' — but those comments miss the point

Wall Street has some trust issues with the Federal Reserve — they don't quite believe the central bank's indication that it will keep rates low even as the economy recovers. A sharp reassessment of expectations for Federal Reserve interest rate hikes has helped drive the market's steep losses. Officials have so far dismissed the market’s turbulence as a natural and perhaps even healthy adjustment for a stock market that had rallied very far very fast.
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