Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Wednesday’s key moments. Fed Chair Powell to speak Defensive growth stocks Alphabet’s high costs 1. Fed Chair Powell to speak Stocks were mixed Wednesday ahead of a highly anticipated speech from Federal Reserve Chair Jerome Powell that could shed light on the central bank’s strategy to fight inflation. However, we suspect Powell won’t fully know the Fed’s interest rate hike trajectory until the release of monthly U.S. employment data on Friday. The bank is unlikely to fully cease raising rates regardless, but there’s a chance it could take a more dovish approach at its next meeting on Dec. 13-14. Wall Street largely expects the Fed to raise rates by 50 basis points next month, less than the 75-basis point hike from November . 2. Defensive growth stocks We…
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