US Fed pauses hike cycle after 10 straight increase
The Federal Reserve has paused its hiking cycle at 10 interest rate increases, proposing two more hikes, with a target rate of 5.5-5.75%. Fed chair Jerome Powell has accepted inflation is still twice the target rate and that US banking regulation has been lacking. Though US job market trends show that Fed’s interest rate hike has not loosened enough to reduce inflation further.
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