• Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms & Conditions
Wednesday, June 7, 2023
Flyy News
No Result
View All Result
  • Home
  • World
  • Business
  • Entertainment
  • Health
  • Food
  • Politics
  • Tech
  • Science
  • Travel
  • Fashion
  • Lifestyle
  • Home
  • World
  • Business
  • Entertainment
  • Health
  • Food
  • Politics
  • Tech
  • Science
  • Travel
  • Fashion
  • Lifestyle
No Result
View All Result
Flyy News
No Result
View All Result
Home Business

Fed hikes again by 75 basis points

flyynews by flyynews
November 2, 2022
in Business
0
Fed hikes again by 75 basis points
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


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 Fed said that “ongoing increases” will likely be needed to bring rates to a level that is “sufficiently restrictive to return inflation to 2% over time,” according to the Federal Open Market Committee’s statement released in Washington Wednesday following a two-day meeting.

In a new sentence in the statement, the Fed also said: “In determining the pace of future increases in the target range, the Committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments.”

The fresh language comes amid still-strong readings on inflation and jobs, even as sectors like housing and manufacturing have slowed substantially.

The unanimous decision lifts the target for the benchmark federal funds rate to a range of 3.75% to 4%, its highest level since 2008.

The statement firmly committed policymakers to their campaign to curb inflation, but acknowledged that interest-rate increases act with a lag.

Chair Jerome Powell will have a chance to elaborate on the outlook for future meetings at his press conference at 2:30 p.m. in Washington.

Investors are looking to him to discuss whether the Fed will slow the pace of rate increases at its next meeting in December.

Election near

Officials, fighting to curb inflation running near a 40-year high, gathered days before midterm US congressional elections in which anger over price pressures has been a dominant theme.

The outcome of the Nov. 8 vote could cost President Joe Biden‘s Democrats control of Congress, and some prominent lawmakers in his party have started to publicly urge the Fed to show restraint. Powell, for his part, has tried to keep the central bank out of the political fray.

Officials, as expected, said they will continue to reduce their holdings of Treasuries and mortgage-backed securities as planned — a pace amounting to about $1.1 trillion a year.

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.

Fed forecasts in September implied a downshift to 50 basis points in December, according to the median projection. Those projections showed rates reaching 4.4% this year and 4.6% next year, before cuts in 2024.

Additional data

No fresh estimates were released at this meeting and they won’t be updated again until officials gather Dec. 13-14, when they will have two more months of data on employment and consumer inflation in hand.

Economists surveyed by Bloomberg late last month were looking for a 50 basis-point increase in December, but almost a third had penciled in a fifth 75 basis-point hike. They saw rates peaking at 5% next year.

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% during 2023.

The Fed’s most forceful tightening campaign since the 1980s is beginning to cool some parts of the economy, particularly in housing. But policymakers have yet to see meaningful progress on inflation.

Nor has there been a significant loosening in the job market, with unemployment in September matching a half-century low of 3.5%.

Employer demand for workers has also remained strong, with 1.9 job vacancies for every unemployed person in America, according to Labor Department data Tuesday.



Source_link

READ ALSO

FMCG Q4 Review: Volume growth drives Q4 earnings; F&B, home care outperform

EU calls on tech giants to label AI-generated content

Related Posts

FMCG Q4 Review: Volume growth drives Q4 earnings; F&B, home care outperform
Business

FMCG Q4 Review: Volume growth drives Q4 earnings; F&B, home care outperform

June 7, 2023
EU calls on tech giants to label AI-generated content
Business

EU calls on tech giants to label AI-generated content

June 7, 2023
UK watchdog bans Shell, Repsol and Petronas greenwashing ads
Business

UK watchdog bans Shell, Repsol and Petronas greenwashing ads

June 6, 2023
Stocks making the biggest moves midday: COIN, GTLB, HQY
Business

Stocks making the biggest moves midday: COIN, GTLB, HQY

June 6, 2023
Premier Group reports robust full-year results
Business

Premier Group reports robust full-year results

June 6, 2023
Cornish Metals Releases Unaudited Monetary Statements and Control’s Dialogue and Research for the Six Months Finishing 31 July 2022
Business

SpotLite360 IOT Solutions, Inc. Provides Corporate Update

June 6, 2023
Next Post
‘I am deeply concerned about security of Chinese people in Pakistan,’ Xi tells Sharif

'I am deeply concerned about security of Chinese people in Pakistan,' Xi tells Sharif

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

POPULAR NEWS

Angel -Dave Curl – Official Music Video 2022

Angel -Dave Curl – Official Music Video 2022

November 17, 2022
Worker retention statistics that may marvel you

Worker retention statistics that may marvel you

September 16, 2022
Wanaka – Another Spoon Official Music Video

Wanaka – Another Spoon Official Music Video

October 15, 2022
Proud By Cytonic Rhymes – Official Music 2022

Proud By Cytonic Rhymes – Official Music 2022

November 25, 2022
Sweet Bennie Ray – Whole Lot (Official Music Video)

Sweet Bennie Ray – Whole Lot (Official Music Video)

December 22, 2022

About Us

Welcome to Flyy News The goal of Flyy News is to give you the absolute best news sources for any topic! Our topics are carefully curated and constantly updated as we know the web moves fast so we try to as well.

Follow us

Categories

  • Business
  • Entertainment
  • Fashion
  • Food
  • Gaming
  • Health
  • Lifestyle
  • Politics
  • Reviews
  • Science
  • Tech
  • Travel
  • World

Site Links

  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms & Conditions

Recent News

  • Harris Faulkner Claims She Was Asked to Leave a Restaurant For Praying, Urges Christians to ‘Be Bold’ In Their Faith
  • ‘The Expanse’ actor Cara Gee talks playing Drummer again in the upcoming The Expanse: A Telltale Series (Exclusive)
  • Strawberry Frozen Yogurt (No Ice Cream Maker)
  • FMCG Q4 Review: Volume growth drives Q4 earnings; F&B, home care outperform

Copyright © 2022 Flyynews.com | All Rights Reserved.

No Result
View All Result
  • Home
  • World
  • Business
  • Entertainment
  • Health
  • Food
  • Politics
  • Tech
  • Science
  • Travel
  • Fashion
  • Lifestyle

Copyright © 2022 Flyynews.com | All Rights Reserved.

What Are Cookies
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT