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Expect Fed to walk back forecast, says Ironsides' Barry Knapp

The highly anticipated decision from the Federal Reserve Wednesday caused a sell-off in equities that carried through to a second day. The central bank announced it is keeping interest rates unchanged, raised its 2021 inflation expectation to 3.4% and moved planned interest rate hikes forward. Barry Knapp, managing partner at Ironsides Macroeconomics, and Victoria Fernandez, chief market strategist at Crossmark Global Investments, joined "Squawk Box" on Friday to discuss.

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