The latest inflation figures released on Wednesday indicated that consumer prices increased as expected in October, reinforcing the likelihood of the Federal Reserve reducing interest rates once again in December.
“Progress is being made in addressing inflation,” remarked Claudia Sahm, chief economist at New Century Advisors, in response to the data. “While we are moving in the right direction, it has been a gradual process. This month’s results are consistent with that gradual progress.”
Despite this positive development, there is still uncertainty about future trends as economists caution about a potential resurgence of inflation following Donald Trump’s election as the next president of the United States.
Trump’s proposed policies have raised concerns about their potential to increase inflation due to his campaign pledges of imposing high tariffs on imports, reducing taxes for businesses, and implementing stricter immigration policies.
Following the release of Wednesday’s data, financial markets continued to anticipate a further 25 basis point rate cut in December after a similar reduction by the central bank last week. Traders…
2024-11-13 12:44:36
Article from finance.yahoo.com
