Diabytes
Federal Reserve News
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Inflation surged to a 40-year high of 8.6 per cent in June 2022, setting off a string of interest rate hikes by the US Federal Reserve to cut spending and cool down the economy.
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In India, both gold and Sensex has surpassed the magical 75,000 figure.
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Federal Reserve is expected to raise interest rates by 0.75%.
Financial Times reported a sharp rise in core inflation.
Consumer prices in Eurozone rose at the highest rate since the existence of the Euro currency.
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The Federal Reserve Bank of New York on Monday announced that 60-year-old Krishna has been elected as a Class B director, "representing the public with due but not exclusive consideration to the interests of agriculture, commerce, industry, services, labour, and consumers."
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The central bank forecast inflation at 4.3 per cent for 2022, versus its typical target of 2 per cent a year.
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Asian share markets sank on Thursday after Wall Street suffered its worst drubbing in eight months, a conflagration of wealth that could threaten business confidence and investment across the globe.
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This is the biggest single-day fall since May 29 and goes hand in hand with a stronger US dollar.
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The Federal Reserve raised interest rates on Wednesday.
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The Fed also will update its forecasts for the economy and how aggressively officials think the central bank will have to act in coming years.
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Powell is to succeed current Fed chair Janet Yellen, when her terms expire on February 3.
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The US Federal Reserve has raised the benchmark interest rate by 25 basis points.
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The committee approved Powell`s nomination by a vote of 22-1.
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The central bank has increased rates four times in a tightening cycle that began in late 2015.
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Yellen walked systematically through many of the main arguments in favor of a structural change in inflation, and largely discounted them.
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That is one-quarter of a point above the current level. Financial markets were barely moved by the Fed decision and the new economic projections and based on the immediate market reaction it looked as if the Fed was right when it said that the portfolio runoff would be as exciting as "watching paint dry".
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Policymakers are confronted with benign inflation and a tight a labor market as they weigh a third rate hike and announcing plans to start reducing the central bank`s $4.2 trillion portfolio of Treasury bonds and mortgage-backed securities.
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Italian 10-year government bond yields fell 4 basis points to 1.88 percent, narrowing the gap over benchmark German equivalents to 164 bps.
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The Federal Reserve will probably express its confidence inflation will climb towards its 2 percent target when it meets this week and delivers a widely expected rate rise, but such assurances are a poor indicator of the Fed`s future policy.
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Gold fell for a third day on Wednesday, set for its first monthly drop since December, as US economic data boosted the case for an interest rate hike by the Federal Reserve next month.
Wall Street stocks rose a bit early Tuesday ahead of Apple earnings and the start of a two-day Federal Reserve monetary policy meeting.
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