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With no plan, 'data-dependent' Fed 'flip flops' -wealth adviser

STORY: Federal Reserve Chair Jerome Powell did not commit to a 50 basis point rate hike in March, but strong labor market readings supported views that the U.S. central bank will stick to its hawkish policy for longer.

Fed officials have not yet made a call on the size of the rate increase they are almost certain to deliver at their upcoming policy meeting, Powell told a House panel on Wednesday (March 8) as part of testimony on the economy and monetary policy.