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Good morning from New York City. The stock market is up 0.8% and the countdown to the election has begun. Bloomberg's Jonathan Ferro is reporting live with a focus on the Federal Reserve's inaccurate rate forecasts from the previous year. Despite initial predictions of rates rising, they have actually fallen. The market is anticipating rate cuts, showing a disconnect between the Fed and market expectations. It's shaping up to be a challenging year for economic forecasts.
