Oil prices sank on Thursday as the Fed’s hawkish comments sent the dollar higher. Crude oil is down more than 1% on Thursday afternoon, with WTI falling 1.32% at $71.20 per barrel, and Brent down 1.57% to $73.22. Both prices are still up on the week, but down nearly $2 from Wednesday highs. Jerome Powell on Wednesday afternoon said that rising inflation is most transitory, but suggested there is also a risk that inflation may prove to be more persistent than the Feds expected. The Federal Reserve said that it may lift rates as early as in…
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