The Fed's slower rate hike this month is good news for any Americans looking to buy a car, house, or use their credit card in 2023
The nation's central bank raised interest rates once again — but appears to be slowing down its efforts to fight inflation.
This comes after the US economy received some promising data on where high prices are headed — the Consumer Price Index, which measures inflation,7.1% year-over-year in November, which marked a decrease from the October reading of 7.7%. While inflation levels are still undoubtedly high, the Fed appeared to respond to the positive direction the economy is heading by slowing its aggressive interest rate hikes.
Still, the country is far from achieving the Fed's goal of reaching a 2% inflation level — where the economy was pre-pandemic — and Federal Reserve Chair Jerome Powell previouslyduring a Brookings Institution event that interest rate hikes will persist so long as prices remain high. "It is likely that restoring price stability will require holding policy at a restrictive level for some time," he added."History cautions strongly against prematurely loosening policy. We will stay the course until the job is done."
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Dollar wallows at six-month lows ahead of last Fed meeting of 2022 By Reuters*U.S. DOLLAR FALLS TO SIX-MONTH LOW AHEAD OF LAST FED MEETING OF 2022 - $USD 🇺🇸 🇺🇸
Baca lebih lajut »
Rockets insider: Team, opposing Suns show grieving Silas the loveThe coach, whose father died this past weekend, has seen his players post a number of...
Baca lebih lajut »
10 Fascinating Insider Secrets About The Evolution Of The Addams Family On “Wednesday”From how Morticia's look evolved to modern times to how they handled using wigs during the blood rain shower scene — a lot went on behind the scenes.
Baca lebih lajut »
TigerIllustrated - MONDAY INSIDER
Baca lebih lajut »
Political insider who died accessed Jacksonville Sheriff’s Office buildings 624 times, records showAction News Jax is working to get answers about the access one political power player had to the Jacksonville Sheriff’s Office.
Baca lebih lajut »
U.S. inflation slows again, CPI shows, as Fed prepares to raise interest ratesThe cost of living rose a scant 0.1% in November, the latest in a string of mild readings that suggest the worst U.S. inflation in 40 years is receding. Economists polled by The Wall Street Journal had forecast a 0.3% increase in the consumer price index.
Baca lebih lajut »