WASHINGTON, D.C. — The US appears on track to hit its long-term target of 2-percent inflation despite a recent uptick, three Federal Reserve (Fed) officials said Monday, with one indicating tentative support for another rate cut this month.
WASHINGTON, D.C. — The US appears on track to hit its long-term target of 2-percent inflation despite a recent uptick, three Fed eral Reserve officials said Monday, with one indicating tentative support for another rate cut this month.The US central bank has been on a journey since the Covid-19 pandemic, hiking interest rates to a two-decade high and holding them there in order to tame a surge in inflation, before starting to dial back rates in recent months.
'Within striking distance'Speaking in the New York borough of Queens on Monday, New York Fed President John Williams said inflation was now 'within striking distance' of 2 percent.'Monetary policy remains in restrictive territory to support the sustainable return of inflation to our two percent goal,' he continued, according to prepared remarks.
Fight Mostly On Track Fed Execs
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump makes a victor's return to Washington to meet with Biden and GOP lawmakersWASHINGTON (AP) — President-elect Donald Trump is making a victor's return to Washington.
Read more »
Washington Consensus 1981–2008, cremated 2024THE Washington Consensus is in my view was something of a Schrodinger's Cat. Alive when the West were telling others to follow it, dead when they were the ones supposed to follow it, even before it became evident that the West did not apply it to them when the financial crisis came to them in 2008.
Read more »
NBA: P.J. Washington shines, Mavericks stave off ThunderLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
Moscow Warns Washington Over Ukraine's Use of US-Made MissilesMoscow has warned Washington that its decision to allow Ukraine to use US-made missiles to strike Russia adds 'fuel to the fire' in the ongoing conflict. A misleading video spreading misinformation about Russia declaring war on the US has gone viral, with no credible reports confirming such claims.
Read more »
US inflation may have picked up in October after months of easingWASHINGTON (AP) — Annual inflation may have risen in October for the first time in seven months, a sign that price increases might be leveling off after steadily cooling for more than two years.
Read more »
World Faces Major Economic Risks as Inflation and Fuel Prices SurgeBloomberg highlights looming economic risks including labor shortages, potential for a more severe pandemic, and increasing deglobalization.
Read more »