Post a Free Blog

Submit A Press Release

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Dark Comedy
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Music
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Thriller
Truck Series (TRUCK)
True Crime
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Western
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
0
-- Advertisement --spot_img
HomeBusinessAfter raising rates to a 22-year high., Powell left room for another...

After raising rates to a 22-year high., Powell left room for another rate increase in September 

Add to Favorite
Added to Favorite
Twitter Image Federal Reserve
@federalreserve

After raising rates to a 22-year high, Powell left room for another rate increase in September. On July 26, 2023, the Federal Reserve made a momentous decision to raise interest rates to a 22-year high. This unexpected move came as a response to the surging inflation and mounting concerns over an overheated economy. The decision carries significant implications for consumers, businesses, and financial markets alike. What was the Federal Reserve’s rationale behind this bold step?

The Federal Reserve increased interest rates by a quarter of a percentage point. Fed Chair Jerome Powell stated that for inflation to “credibly” return to the U.S. central bank’s 2% target, the economy must still slow down and the labor market must deteriorate. The action raised the federal funds rate to its highest level in 22 years, a range of 5.25% to 5.5%.

The Fed repeated that “determining the extent of additional policy firming (rate increases) that will be appropriate” to bring inflation down to its target of 2% will depend on inflation as well as economic and financial developments, among other things, in a statement following a two-day meeting.

https://organicgreek.com

Jerome Powell, the chairman of the Federal Reserve, recognized the June decrease in inflation but stressed that while it is “welcome, it’s just one report, one month of data. “He said the process of lowering inflation to the Fed’s 2% goal “has a long way to go.”

While many will yield a better interest rate on bank CD’s, for households and companies, who enjoyed a breather when the Fed stopped its aggressive rate-hiking campaign in June, the most recent rate increase means an increase in borrowing rates. Credit card, adjustable-rate mortgage, auto, and other loan rates are about to increase once more. The interest rate hike makes it even more costly for those looking to purchase a home.

https://www.parisjewelry.com/

Recent indicators suggest that economic activity has been expanding at a moderate pace. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation remains elevated.

The U.S. banking system is sound and resilient. Tighter credit conditions for households and businesses are likely to weigh on economic activity, hiring, and inflation. The extent of these effects remains uncertain. The Committee remains highly attentive to inflation risks.

Celebrity WEB Update— Premier Jewelry designer and manufacturer fashion house  ParisJewelry.com  has started manufacturing a new custom line of celebrity jewelry designs with 30% Off and Free Shipping. Replenish Your Body- Refilter Your Health with  OrganicGreek.com  Vitamin Bottles, Vitamins and Herbs. Become a  WebFans  Creator and Influencer.

Subscribe to get Latest News Updates

Latest News

You may like more
more

US economy sees 2.8 percent annual rate in third quarter, no recession, CWEB reports

On Wednesday, the Commerce Department of the US government...

ConocoPhillips (NYSE:COP) Surpasses Earnings Estimates

Earnings per share (EPS) of $1.78 exceeded the estimated...

Weave Communications, Inc. (NYSE: WEAV) Sees Positive Financial Growth and Analyst Optimism

Significant improvements in gross margins, operating margins, and free...