The Federal Reserve may reach a turning point this week as it announces what's expected to be another substantial three-quarter-point hike in its key interest rate — its fourth straight .
Fed officials have stressed that they need to raise rates significantly to tame inflation, which has caused hardships for millions of households. High inflation has also become a central point of attack for Republicans against Democrats in the midterm congressional elections.
The Fed’s benchmark short-term rate stands in a range of 3% to 3.25%. In September, policymakers forecast that they’d raise it by an additional 1.25 percentage points by year’s end. That timetable suggests a three-quarter-point hike on Wednesday and a half-point increase in December. For now, though, many Fed officials have said they see few signs inflation is coming down in a sustainable way.
The data firm ApartmentList, for example, said rents in new leases fell from August to September for the first time this year. Even tracked over the past 12 months, the still-high 6.8% increase in rents was far less than the 12-month increase of 17.1% that was measured a year ago.Yet in the government’s consumer price index, housing costs are still rising at the fastest pace in decades.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Robert Kiyosaki Warns Stocks, Bonds, Real Estate Will Crash as Fed Continues Rate Hikes — Advises Buy Bitcoin Before Fed Pivot – Economics Bitcoin NewsRobert Kiyosaki has advised buying bitcoin before Fed pivot, warning that stock, bond, and real estate markets will crash as rate hikes continue.
Read more »
Saudi Shares fall on weak earnings, volatile oilSaudi Arabian shares extended losses on Sunday, weakened by disappointing corporate earnings, volatile energy markets and the expectation the U.S. Federal Reserve will hike interest rates next week.
Read more »
Take Five: It's rate-hike centralIt's rate-hike central with monetary policy meetings in the United States, Britain, Australia and Norway in the week ahead.
Read more »
ECB Knot: Next rate move likely between 50 and 75 bpsReuters reported that the European Central Bank (ECB) could hike its interest rates by 75 basis points again at its next policy meeting in December, E
Read more »
ECB's next rate move likely between 50 and 75 bps, Knot saysThe European Central Bank (ECB) could hike its interest rates by 75 basis points again at its next policy meeting in December, ECB governing council member Klaas Knot said on Sunday.
Read more »
Treasury yields climb as Fed decision loomsYields on U.S. debt rose ahead of a key Federal Reserve meeting. Busy week also sees Bank of England meeting and nonfarm payrolls data
Read more »