Tag: USA

US Fed hikes interest rates by 25 basis points [Anadolu Agency (Turkey)]

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The US Federal Reserve on Wednesday raised its benchmark interest rate by 25 basis points as part of its fight against inflation.

The Federal Open Market Committee (FOMC) unanimously decided to raise the target range for the federal funds rate to between 4.5% and 4.75%.

In seven hikes, the US central bank raised the rate by a total of 425 points last year.

“Inflation has eased somewhat but remains elevated,” the FOMC said in a statement.

“Russia’s war against Ukraine is causing tremendous human and economic hardship and is contributing to elevated global uncertainty.”

The Fed’s aggressive monetary tightening is a result of record consumer and producer prices, which are still hovering around their highest level in 40 years.

Annual consumer inflation in the US came in at 6.5% in December, easing from 7.1% in November, while producer inflation dropped to 6.2% in December from November’s 7.3%.

Read more: US Fed hikes interest rates by 25 basis points [Anadolu Agency (Turkey)]

Source: https://www.aa.com.tr/en/americas/us-fed-hikes-interest-rates-by-25-basis-points/2803816

This article does not constitute investment advice or a personal recommendation. You should not make any investment decisions without first conducting your own research and considering your own financial situation.

Past performance is not a reliable indicator of future results.

Narrations are not endorsements.

US Fed’s inflation indicator eases to 3.9% in Q4, from 4.7% in Q3 of 2022[Anadolu Agency (Turkey)]

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The US Federal Reserve’s preferred inflation indicator eased to 3.9% in the fourth quarter of last year, down from 4.7% in the third quarter, according to the Commerce Department figures released Thursday.

The core personal consumption expenditures (PCE) price index also came lower than the market estimate of 4%.

The PCE price index, which includes food and energy prices, increased 3.2% in October-December 2022, also softening from a 4.3% gain in the July-September period.

The softening in the quarter-to-quarter figures is a result of the Fed’s aggressive monetary tightening cycle and interest rate increases last year.

In 2022 overall, however, the core PCE price index increased 5%, accelerating from a 3.5% gain in 2021, the Commerce Department said.

PCE price index, including food and energy prices, rose 6.2%, also picking up pace from 4% in 2021.

The overall annual gains in the figures are a result of consumer prices significantly picking up pace in 2022, compared to the year before.

Read more: US Fed’s inflation indicator eases to 3.9% in Q4, from 4.7% in Q3 of 2022[Anadolu Agency (Turkey)]

Source: https://www.aa.com.tr/en/economy/us-feds-inflation-indicator-eases-to-39-in-q4-from-47-in-q3-of-2022/2798434

This article does not constitute investment advice or a personal recommendation. You should not make any investment decisions without first conducting your own research and considering your own financial situation.

Past performance is not a reliable indicator of future results.

Narrations are not endorsements.