The benchmark interest rate was raised by 0.75 percentage points, according to the Federal Reserve. The bank anticipates that raising borrowing costs will slow down economic growth. Some areas of the economy, like housing, have already begun to slow down as a result of the increase in borrowing costs. In an effort to slow the … Read more
US retail sales fell 0.3 percent in May to $672.9 billion, as rising fuel prices and other factors. Report comes ahead of the US central bank’s policy announcement later Wednesday. Many think a rate hike will result in a 75-basis-point increase after weeks of a smaller increase. Wall Street stocks opened higher on Wednesday, despite … Read more
Recessions are notoriously difficult to forecast, but there is growing agreement among big banks. Bank of America, and Deutsche Bank, etc are among the most prominent firms forecasting. Famous economists that a slump is on the way. Recessions are notoriously difficult to forecast, but there is growing agreement among big banks and famous economists that … Read more
Wall Street has grown fearful as the Federal Reserve is set to make its biggest fee hike in greater than two many years to overwhelm inflation that has reached tiers no longer seen because of the 1980s. The critical bank’s coverage-placing Federal Open Market Committee (FOMC) opened the final session of its -day assembly on … Read more
WASHINGTON: Soaring US inflation rates are “not acceptable” but the health of the world’s largest economy is fundamentally sound thanks to policies that have mitigated the impact of the pandemic, Treasury Secretary Janet Yellen told AFP. Yellen conceded in an interview she is “concerned” about inflation running at its highest level in decades, and warned … Read more
WASHINGTON: The American economy is likely to saw strong job gains in the final month of 2021, which could shorten the timeline for the US central bank to raise interest rates. The Federal Reserve has been setting the stage to increase borrowing costs more aggressively to rein in growing inflation, and that prospect sent markets into … Read more
With inflation expected to remain high for some time, the US central bank is likely to raise interest rates soon after it ends its bond-buying programme in March, a Federal Reserve board member said on Friday. The Fed earlier this week announced it will accelerate the end to its stimulus programme after inflation last month … Read more
