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High interest rates and economic uncertainty are behind recent rise in corporate defaults

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High interest rates and economic uncertainty are behind recent rise in corporate defaults

Federal Reserve Board Chairman Jerome Powell departs after speaking during a news conference following the Federal Open Market Committee meeting, at the Federal Reserve in Washington, DC, on June 14, 2023. 

Mandel Ngan | AFP | Getty Images

The Federal Reserve plans to keep hiking interest rates to stem inflation, which means an increase in corporate default rates is likely in coming months.

The corporate default rate rose in May, a sign that…

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