To curb surging inflation, the Fed has hiked rates 11 times since March 2022, with a September pause. Powell stays cautious about ending the battle.
The Fed's Nov meeting
02 Nov 2023
Previous(Sep):5.50% | Forecast:5.50%
In a bid to stamp out the highest inflation in four decades, the Fed have made 11 interest rate hikes since March 2022 before a pause in Sep. But Powell is yet convinced that inflation fight is over.
The consumer price index increased 3.7% in September from a year ago, still nearly double the Fed's 2% target. Surprisingly strong retail sales and tight job market continue to signal “higher for longer” path.
The CME 'Fed Watch' tool shows markets are pricing a 26% probability of another 25bps hike in Dec. Top Fed officials indicated that rising yields could substitute for further tightening.
Oil prices fell in early Asian trade on Friday, extended losses after OPEC+ agreed to voluntary oil output cuts for the first quarter next year.
2023-12-01Gold neared a 7-month peak on Thursday amid speculation of a Fed rate cut in H1 2023, pressuring the dollar and Treasury yields.
2023-11-30Charlie Munger, known for being Warren Buffett’s right-hand man, died at age 99. He would have turned 100 on New Year’s Day.
2023-11-29