The Fed's Nov 2023 meeting
2023-11-01
Summary:
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.
NFP - AugRisk assets fall sharply
US job growth in July slowed more than expected, raising fears of a broader economic slowdown and causing risky assets to tumble throughout the month.
2024-09-06
OPEC+ helps oil prices steady at 14-month low
Oil prices rose slightly on Friday, as investors balanced a large US crude inventory draw and OPEC+ production delays with mixed US employment data.
2024-09-06
Wall St recommend long gold unanimously
Bullion steadied Thursday below $2500 after a market sell-off. It is expected to remain near this level until the NFP report is released.
2024-09-05
