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Interest rate reduction for the second time in a row in the USA! The Fed left interest rates unchanged at a 22-year high of 5.25 to 5.5 percent.
The Fed increased the policy rate 11 times in 16 months as part of the fight against high inflation; It was last increased by 0.25 points in July. One of the fastest and harshest interest rate increases in history.
Fed Chairman Jerome Powell (70) evaluates the inflation risk and the risk of extreme economic slowdown when making his decision. The latest economic data showed US inflation remained above the Federal Reserve’s target but weakened, while economic growth remained high.
The boom in the US economy carries the risk of inflation accelerating again.
What is especially exciting now is whether Central Bank Governor Powell will take action again in future meetings. The last opportunity for another increase this year will be the December 13 meeting.
The press conference will start at 19.30.
++ Update to follow…
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
