Most members of the Federal Reserve see signs of declining US inflation (Getty)
I continued US stocks On Wednesday, its rise, driven by the details of the minutes of the Federal Reserve’s meeting, which was held three weeks ago, showed the tendency of most of its board members to slow the pace of rate hikes during the upcoming meetings, in a clear sign of their expectation of a decline in inflation in the largest economy In the world.
During trading on the last day before the American Thanksgiving holiday, the Dow Jones Industrial Average rose 0.28%, the S&P 500 gained nearly 0.6%, while the Nasdaq index, which is most affected by interest rate changes, added nearly 1% to its value.
And the minutes of the last meeting of the world’s largest central bank indicated that most of those who participated in it saw slowing the pace of interest rate increases “likely to be appropriate soon”, to avoid exaggeration that might restrict economic activity and enter the US economy into recession.
And the details published today increased the odds that the Federal Reserve would be satisfied with raising only half a percent during its meeting on the fourteenth of December, in a shift from the hawkish policy, which saw the interest on the bank’s funds raised by three-quarters of a percentage point in the last four meetings.
And before the investors go away with their optimismThe minutes of the meeting showed that “many officials,” a description Bloomberg says is not commonly used in the minutes of previous meetings, concluded that rates would eventually reach higher levels than previously expected.
And before announcing the details of the Federal Reserve meeting, oil prices fell by more than 3 percent when settling operations on Wednesday, to continue their volatility to coincide with discussions by the Group of Seven to set a maximum price for Russian oil beyond the level at which it is currently trading, and also with the announcement of an increase in gasoline stocks in Russia. United States, more than expected.
Brent crude futures for January delivery fell by 3.3% to $85.41 a barrel at settlement, and US crude fell 3.7% to $77.94 a barrel.
With the possibility of easing the rate hike, the US dollar continued to incur losses once morest the euro and the yen, as the euro rose 0.9% once morest the dollar to $1.03905, recording gains for the second consecutive session, and the dollar fell 1.1% once morest the yen to 139.63 yen.
