The Fed is expected to leave borrowing rates unchanged at the conclusion of its latest two-day policy meeting on Wednesday.
Inflation likely accelerated in December, putting pressure on the Federal Reserve to keep interest rates relatively high.
The Federal Reserve is expected to maintain interest rates at 425-450 basis points on January 29, supporting a continued stock market rally. Read more here.
Gas prices rose sharply, but investors homed in on a small decline in the core CPI.
Consumers and traders are waiting to learn if the Fed’s expected pause today is a one-meeting hold or the start of a longer stretch.
Consumer sentiment in the US deteriorated in January, with the Conference Board's (CB) Consumer Confidence Index declining to 104.1 from 109.5 in December. In this period, the Present Situation Index fell by 9.7 points to 134.3 and the Expectations Index dropped to 83.9.
The Consumer ... Price Index for Urban Wage Earners and Clerical Workers (CPI-W): This index is used to determine the annual cost of living adjustments to Social Security benefits and to adjust ...
This contradicts months of claims from Jerome Powell who has insisted that price inflation was rapidly returning to the Fed's two-percent price inflation goal.
U.S. consumer prices rose in December due to higher energy costs, leading to the highest inflation in nine months. However, underlying price pressures showed signs of subsiding, raising hopes of tamer inflation readings in the future.
U.S. consumer prices rose in December, pointing to elevated inflation and fewer interest rate cuts by the Federal Reserve.
This contradicts months of claims from Jerome Powell who has insisted that price inflation was rapidly returning to the Fed's two-percent price inflation goal.
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