United States consumer inflation up at 7% in Dec 2021, highest level since 1982. Interest rates still down at 0.25%, offering no incentive to save.
Traders have been worried by the prospect of an end to the ultra-loose policies, which have helped power a two-year market rally and support the pandemic-hit economy.He said the economy was on a strong footing, and with inflation rising and employment recovering,"the economy no longer needs or wants the very highly accommodative policy".
The comments were taken by traders to be less hardline than feared, suggesting recent fears about a swift removal of easy-money measures may have been overdone. While most observers expect equities to endure some tough times in the near future, they remain broadly upbeat about the outlook for this year.Rand jumps to strongest level in weeks as Powell soothes policy fears
But he said policymakers were still debating approaches to reducing the Fed's balance sheet, and that it could sometimes take two, three or four meetings for them to make such decisions. The telecoms giant also announced the appointment of Megan Nicholas as managing director for MTN Supersonic, the company's fibre and broadband internet service provider."Residential broadband delivery is a critical strategic focus, as we work to bring our superior network and service into more of our customer’s homes.
Bitcoin meanwhile, the world's most popular cryptocurrency, rose above $42,000 just a day after having sunk below $40,000 on fears of reduced liquidity as a result of US monetary policy tightening. In late morning trading, the Dow was down less than 0.1 percent, while the S&P 500 was up 0.2 percent and the tech-heavy Nasdaq Composite showed a gain of 0.9 percent.
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