WASHINGTON, June 17 — Federal Reserve Chair Jerome Powell on Wednesday once again tried to assuage fears of rising US inflation, even while a majority of central bank officials now believe interest rates will increase in 2023.
The March forecasts showed only seven officials expecting rate liftoff in 2023, but seven now expect one as soon as next year. Markets and analysts have been closely watching FOMC meetings in recent months as they weigh fears that the Fed’s stance on rising prices is too passive, which could allow an upward price spiral that would force the central bank to aggressively raise rates — and crush economic growth.
He warned that the “recovery is incomplete” and improvement has been “uneven,” with employment in hard-hit sectors well below pre-pandemic levels. Those temporary effects should “stop, and in fact it would reverse over time,” he said. However, “we are not sure” about the timeframe. Powell said the committee is not focused on raising lending rates but has started discussions on when to taper the pace of bond purchases as its first move towards ending the pandemic measures.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Safawi nets penalty to boost Malaysia’s 2023 Asian Cup hopes | Malay MailKUALA LUMPUR, June 16 — The Harimau Malaya are guaranteed a direct spot in the next round of the 2023 Asian Cup Qualifiers after edging Thailand 1-0 in their final Group G second-round match of the 2022 World Cup/2023 Asian Cup qualifiers in Dubai, the United Arab Emirates (UAE) early...
Source: malaymail - 🏆 1. / 86 Read more »
US stocks little changed ahead of Fed decision | Malay MailNEW YORK, June 16 — Wall Street stocks tread water early today as markets awaited a Federal Reserve decision and an update of the central bank’s view on inflation. The Fed is widely expected to maintain its current accommodative stance, but “market participants will be eager to go through...
Source: malaymail - 🏆 1. / 86 Read more »
Dollar edges up after US inflation data as traders await Fed outcome | Malay MailNEW YORK, June 16 — The dollar rose to a one-month high against a basket of currencies yesterday, aided by data showing inflation speeding up, but its gains were capped as traders awaited the outcome of the US Federal Reserve’s two-day policy meeting for hints of plans to start tapering its... A pop of the dollar against other unlimited issue currencies does not mean that its not losing its purchasing power.
Source: malaymail - 🏆 1. / 86 Read more »
Malaysia kalahkan Thailand, berpeluang ke Piala Asia 2023Kejayaan membenam Thailand membolehkan Malaysia merampas kedudukan ketiga Kumpulan G daripada skuad Gajah Perang itu dan melangkah secara automatik ke pusingan ketiga Kelayakan Piala Asia 2023. FMTNews Malaysia Thailand PialaAsia2023 Bilalah malaysia nak masuk piala dunia. Pelan pelan
Source: fmtoday - 🏆 5. / 72 Read more »
US buys 200m more Moderna Covid-19 vaccine doses | Malay MailNEW YORK, June 16 — The US government has bought another 200 million doses of Moderna’s Covid-19 vaccine, the drugmaker said today, including an option to buy experimental shots that may be in development. The additional Moderna doses, which brings total US orders to 500 million, could be used...
Source: malaymail - 🏆 1. / 86 Read more »
US IPOs hit annual record in less than six months | Malay MailNEW YORK, June 16 — Wall Street’s record-breaking run for stock market flotations shows no signs of slowing down. With more than six months until the year ends, US initial public offerings have already totalled US$171 billion (RM704 billion), eclipsing the 2020 record of US$168 billion,...
Source: malaymail - 🏆 1. / 86 Read more »