2023-05-03 18:35:56
The U.S. Federal Reserve (Fed) decided to raise interest rates by 1 yard today. After the U.S. banking crisis resumed, inflation in the U.S. eased significantly in March, but core inflation remained stubborn.
The Federal Reserve raised interest rates by 1 yard (0.25 percentage points) and 2 yards (0.5 percentage points) in March and May last year, and raised 3 yards (0.75 percentage points) for 4 consecutive times in June, July, September and November. percentage points), in December it was up only 2 yards, and it was up 1 yard each in the first and second meetings this year.
The Fed’s 1-point rate hike at today’s Federal Open Market Committee (FOMC) meeting brings the rate hikes to 20 yards, or 5 percentage points, since March last year.
According to the U.S. Department of Labor, U.S. inflation eased significantly in March, with the annual growth rate of consumer prices falling to 5%, the lowest in nearly two years. However, non-energy and food prices such as rents are stubbornly rising.
In addition, the Bureau of Economic Analysis (BEA) under the U.S. Department of Commerce also released data that the U.S. personal consumption expenditures price index (PCE) increased by 4.2% year-on-year in March, indicating that inflation has cooled. PCE is the Fed’s preferred measure of inflation.
U.S. government regulators recently announced that troubled California regional bank First Republic Bank has been taken over by financial authorities and will be bought by JPMorgan Chase & Co, the latest bank failure. WebMD 0503
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