Stock Market News
Dated:-30-09-2023
As a result, the Federal Reserve may have less room to raise interest rates again this year, as the headline reading of the Fed's preferred inflation gauge increased by less than expected on a monthly basis in August, while the underlying metric unexpectedly slowed compared to July.
Inflation as measured by the price index for personal consumption expenditures (PCE) rose to 0.4% from 0.2% in July on a monthly basis, according to statistics released by the Bureau of Economic Analysis of the U.S. Department of Commerce. This was somewhat lower than the rise of 0.5% that was expected by experts. It rose to 3.5% from an earlier, more optimistic estimate of 3.4% year over year.
Forecasts predicted that the rate of change would stay steady at 0.2%, but the pace of the so-called "core" index, which excludes goods like food and energy, fell to 0.1% month-over-month. Annually, it slowed to 3.9% from 4.3% after an upward revision, which was in line with projections.
The Federal Reserve Board left interest rates unchanged last week within a range of 5.25% to 5.50%, but signaled that more rate rises may be necessary at their November or December meetings to help calm inflation. Furthermore, they signaled that policy could need to remain at these high levels for a longer length of time than previously expected, which has impacted on equities and pushed bond rates rising this week.
U.S. stock index futures on Friday headed into the last day of September trading were supported by the softer-than-expected PCE announcement, which bolstered chances that the Fed may finally choose to stop any tightening for now.
for forex signals please visit our website given below
Comments
Post a Comment