U.S. Federal Reserve officials delivered their fourth straight 75 basis-point interest rate increase while also signaling their aggressive campaign to curb inflation could be approaching its final phase.
Federal Reserve officials delivered their fourth straight 75 basis-point interest-rate increase while also signaling their aggressive campaign to curb inflation could be approaching its final phase.
The unanimous decision lifts the target for the benchmark federal funds rate to a range of 3.75 per cent to 4 per cent, its highest level since 2008. Swaps traders cut the amount of pricing in for the December policy meeting and pushed where they see the peak rate for the cycle to below 5 per cent from around 5.05 per cent earlier Wednesday.
Investors are looking to him to discuss whether the Fed will slow the pace of rate increases at its next meeting in December.Officials, fighting to curb inflation running near a 40-year high, gathered days before midterm U.S. congressional elections in which anger over price pressures has been a dominant theme.
The higher rates go, the harder the Fed’s job becomes. Having been criticized for missing the stubbornness of the inflation surge, officials know that monetary policy works with a lag and that the tighter it becomes the more it not only slows inflation, but economic growth and hiring too. Investors saw a similar path: Pricing in financial futures markets earlier on Wednesday was split between a 50 and 75 basis-point increase in December, with rates peaking slightly above 5 per cent during 2023.
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.
Oil pares gain in rangebound trading ahead of Fed decision - BNN BloombergOil traded near US$88 a barrel ahead of a Federal Reserve interest rate decision and after an industry report pointed to another big decline in U.S. crude inventories.
Read more »
U.S. stocks steady ahead of Fed meeting; Dollar falls - BNN BloombergEquities erased early gains ahead of the Federal Reserve's policy meeting Wednesday. A gauge of the dollar fell and gold rose.
Read more »
The Daily Chase: Awaiting U.S. Fed rate decision; Canada Goose lowers revenue forecast - BNN Bloomberg🏛️Awaiting U.S. Fed rate decision ‼️ BoC remains focused on rate hikes 📉Canada Goose lowers revenue forecast Here's what you need to know today:
Read more »
Selloff deepens as BOE in focus after Fed warning - BNN BloombergStocks and U.S. futures fell after Jerome Powell said the Federal Reserve would raise interest rates more than previously anticipated, sapping risk appetite. Global bond yields rose.
Read more »
U.S. stocks rise as traders await Fed; dollar declines - BNN BloombergThe dollar and Treasury yields fell as investors awaited the Federal Reserve's policy meeting. Stocks and U.S. equity futures rallied.
Read more »