An economic indicator that the Federal Reserve uses as a measure of inflation rose less than expected in August, showing that the central bank’s fight against rising prices is making progress. The personal consumption expenditures price index, which excludes food and energy, rose 0.1% in the month, less than the 0.2% rise expected in the…
Three of the world’s highly influential central banks reduced their pace of increase in interest-rate hikes. These banks acknowledged that somewhat price pressures are easing but also stressed that inflation is still far from over. The Federal Reserve, Bank of England, and European Central Bank increased interest-rates by 50 basis points following previous increase of…
Federal Reserve authorities are determined to fight inflation and are expecting higher interest rates for some time ahead until the inflation is within the target range of Federal Reserve, as discussed in the Fed’s December meeting. Federal Reserve policymakers at its December meeting raised interest rate by half a percentage point, and expressed the necessity…
