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Johnson: Fed's Path May Not Be Smooth

The Fed's plan for stair-step rate hikes in the coming years will likely be derailed by economic reality, says Morningstar's Bob Johnson.

Jeremy Glaser: For Morningstar, I'm Jeremy Glaser. As expected, the Fed raised its benchmark rate by 25 basis points today, and we're here with Bob Johnson, he's our director of economic analysis, to see if we learned anything new from this release.

Bob, thanks for joining me.

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