Already a subscriber?The US sharemarket surged to a fresh record high as the world’s most powerful central bank voiced confidence that its campaign to curb inflationary pressures was on track, even as economic activity remains robust.
Still, it’s clear that Fed officials expect inflation to remain sticky. They now expect core inflation, which excludes volatile food and energy prices, will end the year at 2.6 per cent, which is slightly higher than the 2.4 per cent they were expecting back in December. Of course, the robust health of the US economy allows the Fed the luxury of taking some time to see how inflation evolves before it cuts interest rates.
Source: Loan Digest (loandigest.net)
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