BREAKING: The Fed may be ending its three-year pause with a rate hike next week, sending shockwaves through markets. Historically, one-and-done hikes are extremely rare, with 1997 the key exception. Former Fed Vice Chair Richard Clarida says a hike would likely be followed by more, while markets are now pricing in at least three hikes by next June — a major reversal from earlier hopes for four cuts in 2026. The big question now: how hard will risk assets react?

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