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Economic Preview: Look for the Fed to hike interest rates this week and to ignore the elephant in the room

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Federal Reserve Bank Chairwoman Janet Yellen will hold a news conference Wednesday.

You can expect the Federal Reserve to raise interest rates this week, but look for it to shy away from the bigger question looming for financial markets: How does the shock outcome of the presidential election change the economic landscape?

The Fed is widely expected to announce an increase in the target range for its federal funds rate to between 0.5% and 0.75% when its two-day meeting wraps up Wednesday, analysts agree. It will be the first increase of 2016, a year once expected to produce at least a couple of rate adjustments.

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