![]() ![]() The Fed’s key lending rate is a range of 3.75% to 4%, up from close to zero in March. Traders expect the Fed to raise rates again next month but by a smaller margin of one-half percentage point after a series of 0.75 percentage-point increases. That suggests costs of rent, medical services, autos and other goods and services still are rising in response to strong demand. ![]() ![]() Investors worry rate hikes this year by the Fed and central banks in Europe and Asia to cool inflation might tip the global economy into recession.Ĭore inflation, which strips out volatile food and energy prices to show a clearer trend, is expected to accelerate to 6.5% from August’s 6.3%. “There are upside risks” of higher inflation than expected, said Michael Every of Rabobank in a report. That might reinforce arguments by some Fed officials that rates have to stay high for an extended period to slow economic activity and extinguish inflation. government data Thursday to show surging inflation eased in September but stayed near a four-decade high. and some other companies.įorecasters expect U.S. Investors were rattled by the crypto industry’s latest crisis of confidence and weaker profit reports from The Walt Disney Co. Wall Street’s benchmark S&P 500 index lost 2.1% as investors watched vote-counting from Tuesday’s congressional elections to see whether Republicans take control, possibly leading to changes that can unsettle markets. Shanghai, Tokyo and Sydney also declined. Hong Kong’s market benchmark fell by more than 2%. inflation update that will likely influence Federal Reserve plans for more interest rate hikes after elections left control of Congress uncertain. BEIJING (AP) - Asian stock markets followed Wall Street lower on Thursday ahead of a U.S. ![]()
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