[ad_1]
Still, there was a sense in the build-up to today’s announcement that a possible July rate hike would be the last, with interest rates having already spiked throughout the Fed’s aggressive approach of the last 16 months.
US consumers’ 12-month inflation expectations are now at their lowest level since November 2020 – and new data on the personal consumption expenditures price index, the Fed’s preferred inflation measure, is expected to show significant moderation when released on Friday.
The overall inflation rate, which dropped to 3% in June, has fallen at a steady pace since hitting a high of 9.1% in the same month last year, a sign that the Fed’s warlike policy on interest rates has been having its desired effect.
The Fed is next scheduled to meet on September 19-20, eight weeks from today, with the central bank expected to assess a wide range of economic data on jobs, inflation, and economic growth as it weighs up whether a fall pause on rate hikes is possible.
[ad_2]
Source link
