The US Federal Reserve (Fed) did not want to be wrong again. After misreading the inflation surge following the pandemic, it wants to ensure ☐ to 4.2 per cent in August, as against 3.8 per cent a year ago. Consequently, a soft landing for the US economy. The unemployment rate increased the Federal Open Market Committee (FOMC) of the Fed on Wednesday decided to reduce the target range for the federal funds rate by 50 basis points to 4.75-5 per cent. The US central bank raised policy interest rates 11 times, starting early 2022, to the highest level in decades to contain the inflation rate, which peaked at 9.1 per cent in June 2022. Although the markets expected a rate reduction of 25-50 basis points, stocks in the US ended the day's trade in the red after the S&P 500 hit record highs. The stock markets in India remained flat on Thursday.
Denne historien er fra September 20, 2024-utgaven av Business Standard.
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Denne historien er fra September 20, 2024-utgaven av Business Standard.
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