Federal Reserve Chair Jerome Powell sees two possible paths for the economy and monetary policy over the next year: With some luck, inflation will cool with the help of more supply. And if that fails, the Fed won’t hesitate to impose a more painful solution. In the best-case scenario, the Fed’s front-loaded interest-rate hikes slow demand for rate-sensitive sectors like housing, cars and other durable goods bought on credit.
3% — the highest reading since 2008 — and Powell and other Fed officials have pointed to that June 10 data release as one of the factors in their last-minute decision to raise by 75 basis points five days later. Final results from the Michigan survey, published Friday, showed a smaller increase, however, to 3.1%.
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:
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Even higher inflation and repo rate means more consumer pain ahead | The CitizenThe recent shocks of higher inflation and a higher repo rate hurt consumers, but it is by no means over, say the experts.
Source: TheCitizen_News - 🏆 6. / 75 Read more »
South Africa’s factory gate inflation set for another riseSouth Africa’s factory gate inflation set for another rise - Producer price inflation reached 13.1% in April, marking the highest print since 2012 I was scammed through Bitcoin couple of months ago, I started hating Bitcoin until I was introduced to Allison_Grillo, and I gave Bitcoin trading another try, I successfully withdrew $35,000 after two weeks of trading, am so grateful Allison_Grillo thank you.
Source: mailandguardian - 🏆 2. / 92 Read more »
Zimbabwe plans triple-digit interest rate hikeZimbabwe’s central bank plans to more than double the benchmark interest rate — already the highest in the world — to 190%. Moneyweb Zimbabwe Inflation
Source: Moneyweb - 🏆 5. / 77 Read more »
National disaster coming for middle class - Here's how to avoid being pushed over poverty line | The CitizenHere are some tips to survive the financial strain of rising inflation and increasing interest rates.
Source: TheCitizen_News - 🏆 6. / 75 Read more »
Zimbabwe's inflation doubles in two months to 191%Inflation which was at 96.4 percent in April, crept up to nearly 200 percent as prices of cooking oil and bread are leaping higher as a result of Russia's invasion of Ukraine. SAgovnews we heading in same direction fast Welcome the EFF economic model! 🤡🤡🤡 Yes but they need land !!! 🤣🤣🤣
Source: ewnupdates - 🏆 30. / 53 Read more »
Zimbabwe: Inflation Doubles in Two Months to 191 Percent - As New Measure Mnangagwa Said to Come Saturday Not AnnouncedZIMBABWE'S annual inflation rate quickened to 191.6 percent in June, more than doubling the consumer price increases of two months ago, official statistics showed Saturday.
Source: allafrica - 🏆 1. / 99 Read more »