Federal Reserve policymakers are unlikely to raise interest rates again in 2023 and will probably start cutting them early next year, traders bet on Thursday, after a U.S. government report showed consumer prices rose only moderately last month.
The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., U.S., June 14, 2022. REUTERS/Sarah Silbiger
They had seen about a 14% chance of a rate hike next month before the Labor Department report showed the July consumer price index rose 3.2% from a year ago, following a 3% year-over-year increase in June. The Fed has driven its policy rate up by 5.25 percentage points since March 2022 to bring inflation back down to its 2% goal. Analysts said July's slight acceleration in year-over-year consumer price inflation - its first in 13 months - was a mathematical artifact of the CPI's 40-year-high peak of 9% last year, and not an indication of worsening underlying trends.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Federal judge suggests Q2 2024 trial for SEC case against Ripple execsFederal judge suggests Q2 2024 trial for SEC's case against Ripple and its execs. Details emerge on potential trial for CEO Brad Garlinghouse and co-founder Chris Larsen.
Read more »
Katie Ledecky Opens Up on Breaking Michael Phelps' Historic Record and Paris 2024 PreparationKatie Ledecky, who recently surpassed Michael Phelps for the most career individual world swimming titles, discusses her excitement for winning and her preparation for the Paris 2024 Olympics.
Read more »
Polling Reveals Americans' Sentiments on the Economy and 2024Despite the Fed and other major institutions no longer predicting our economy is heading into a recession, Americans are still not happy. This article discusses the results of recent polls that shed light on how Americans feel about the economy and their outlook for the year 2024.
Read more »
2024 Lucid Air Sapphire First Drive Review: Crystal Blue PersuasionThe Lucid Air Sapphire, the world's most powerful four-door sedan, is reviewed in this first drive. The electric car offers dynamic torque vectoring and impressive acceleration.
Read more »
Lucid Gravity SUV to Debut in November, Production Begins in Late 2024Lucid is set to unveil a new SUV, called the Gravity, which is based on the same platform as the Air sedan. The mid-size SUV will offer seating for up to seven people, with options for two-row or three-row configurations. Production of the Gravity is scheduled to start in late 2024.
Read more »
2024 Mercedes-AMG GLE 63 S Coupe Cupholder Mega Test: Will the Nalgene bottle fit?We check the cupholders and door pockets of the red-hot GLE to see if they'll fit beverages that are larger than your average water bottle.
Read more »