The US Federal Reserve is considering a higher-than-expected interest rate hike next month as inflation persists, according to the New York Times.
The current challenging market conditions come at a time when Fed officials remain unclear about when they could halt interest rate adjustments. The New York Times reported that market observers are betting that this trend will persist until at least December, or perhaps by a meeting next, based on economic projections and statements from the central bank.
Inflation indicates no signs of slowing as Consumer Price Index (CPI) figures show that rates are on the rise, a 6.6% up over the year through September, constituting a 40-year high. With another Fed meeting scheduled for early November, experts are predicting another aggressive rate hike. Even data projects that Fed officials may back a decision to raise rates.
In September, the Fed raised rates by 75 basis points, marking the fifth-rate hike of the year. At that time, the Fed...
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