us-fed-meeting-live-today-interest-rates-outcome-unchanged-gold-prices-inflation-data – News18
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US Fed Chair Jerome Powell.
The US Federal Reserve is scheduled to announce its interest rate decision at 11:30 pm.
US Fed Meeting LIVE Updates: The US Federal Reserve is scheduled to announce its interest rate decision at 11:30 pm. It is expected to keep its benchmark interest rate unchanged at 5.25-5.50 per cent. All eyes are on US Fed Chair Jerome Powell’s speech for any hint of a possible rate cut in September.
The US central bank has been holding the interest rates for the past one year since July 2023. Before that, between March 2022 and July 2023, the US Federal Reserve raised the interest rates by 525 basis points to control inflation, which hit a multi-decade high amid the Ukraine-Russia war and COVID restrictions.
A basis point is 100th of a percentage point.
However, now, the retail inflation in the US has fallen steadily closer to the Fed’s 2% target for the past several months. According to the latest data, yearly inflation in the US fell to 2.5% in July. The separate latest data showed that the US economy also grew faster than expected at 2.8 per cent in the second quarter solid gains in consumer spending and business investment. The Q2 GDP growth was double the 1.4% growth pace in the first quarter.
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