⚠️BREAKING: *ALMOST ALL FED MEMBERS SEE FUTURE RATE HIKES AMID 'UNACCEPTABLY HIGH' INFLATION
Investing.com --"Almost all" Federal Reserve policymakers backed rate hikes to resume following a pause at the June meeting, expressing concern about the strength in the labor market and"unacceptably high" elevated inflation, according to the Fed minutes of its Jun. 13-14 meeting showed on Wednesday.
In the weeks that followed the June meeting, Fed Chairman Jerome Powell bolstered expectations for the Fed to resume hiking, insisting that monetary policy wasn’t restrictive enough and said he wouldn’t rule out the possibility of hiking rates at consecutive meetings. At the meeting, Fed members upgraded their rate-hike forecast, estimating a terminal rate, or peak rate, of 5.6% at the midpoint in 2023, up from a prior forecast of 5.1% seen in March, suggesting two more hikes ahead., the Fed’s preferred measure of inflation, was forecast to be 3.9% in 2023, up from a prior forecast of 3.6%.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. stock futures drift lower, Fed minutes loom - what's moving markets By Investing.com⚠️BREAKING: *U.S. STOCK FUTURES DRIFT LOWER AFTER INDEPENDENCE DAY HOLIDAY, FED MINUTES LOOM $DIA $SPY $QQQ 🇺🇸🇺🇸
Read more »
'Almost all' Fed officials agreed to skip June hike -minutesA united U.S. Federal Reserve agreed to hold interest rates steady at the June meeting as a way to buy time and assess whether further rate hikes would be needed, even as the vast bulk expected they would eventually need to tighten policy further, according to meeting minutes released on Wednesday.
Read more »
Justin Bieber Lost $1.2 Million on NFT InvestingJustin Bieber's NFT investing path ended without really beginning as his unrealized loss reached almost $1.2 million
Read more »
Foxconn Is Investing $250 Million To Build EV Parts In Vietnam | CarscoopsFoxconn will use $200 million of the investment to produce EV chargers and components car auto cars
Read more »
Goldman's 'Rule of 10' for investing and stocks meeting that criteria todayThe investment bank found the top 10 stocks in the S&P 500 were responsible for 32% of the benchmark's return in the average year since 1995.
Read more »
Asian stocks struggle amid economic jitters, Nikkei slides By Investing.com⚠️BREAKING: *ASIAN-PACIFIC STOCKS END MIXED AMID ECONOMIC JITTERS; JAPAN'S NIKKEI SLIDES 1% 🇯🇵🇦🇺🇨🇳🇭🇰🇰🇷🇮🇩🇮🇳
Read more »