there was not a rate cut this year there was not a rate cut this year nor there was not a rate cut this year nor is there was not a rate cut this year nor is it likely to be appropriate if you think about it. inflation has not moved down it. inflation has not moved down and it is not reacted much to our down and it is not reacted much to our interview existing rate hikes to our interview existing rate hikes so to our interview existing rate hikes so we have to keep at it. most officials think two more rate hikes are needed this year, starting perhaps as early as next month. wednesday s decision ushers in a new phase in the fed s battle to lower prices and follows a path carved out by central banks in countries such as australia and canada, which recently announced rate hikes following a break. the latest decision by america s central bank comes at a time when inflation is slowing but not as quickly as the federal reserve wants. earlier, i spoke with blerina uruci o
Right, the dow, snp 500 and nasdaq all hit their highest levels ever. The catalyst was wednesdays Consumer Price index report, but showed inflation rising less rapidly inflation rising less rapidly in april then wed seen in the first three months of the year. Fed Chairjerome Powell said just a day earlier that fed officials were surprised by this years higher than expected readouts. Traders keenly watch Inflation Figures for clues on how the fed will move forward on Interest Rates. Any news of price increases easing raises their hopes the fed will start cutting the benchmark Interest Rates sooner rather than later. Now more investors expect the fed to make its first rate cut in september and a second and december. Lets stay in the us where a virus that has killed millions of birds around the world has now spread to cows in america. Its raising concerns about the impact on the dairy farming industry. Bird flu has been detected in cows in nine us states, including michigan, texas, and oh
after aggressively raising interest rates for the last year and a half, the federal reserve believes it s in a place where it can leave rates, where they are to cool the economy and to slow inflation from its current 3.7% on a yearly basis to closer to 2%. but even though america s central bank opted not to hike right now, fed chairjerome powell suggested officials are prepared to do more if inflation flares again. the idea that you wouldn t would difficult to to raise again after stopping for a meeting or two is just not right. i mean, the committee will always do what what it thinks is appropriate at the time. right now, things look good, even though it s pricey for americans to get a mortgage or carry credit card debt. growth was stronger than expected over the summer. the world s largest economy is still adding jobs on a monthly basis. and the government s latestjobs report is due out this friday. fed staff also don t see a recession, so they don t want to rock the boat,
..this is bbc news. it s newsday. hi there, thank you for being with us. presidentjoe biden has hailed the diplomatic breakthrough that allowed the first civilians to leave gaza after weeks of being trapped by the conflict. dozens of injured palestinians and hundreds of foreign nationals have been allowed to go. they entered egypt by the rafah crossing on the border, with the injured being treated at field hospitals there. the foreign office says the first british nationals have crossed and more will be taken out in stages over the coming days. people have been trapped in gaza since israel tightened its siege just over three weeks ago after it was attacked by hamas which is classed as a terrorist organisation by the uk and other governments. and in northern gaza, there s been another air strike onjabalia, a day after an israeli attack killed dozens of people at the refugee camp there. israel says its forces killed another hamas commander in the latest strike but un human