and so it would be another indication that inflation is starting to ease and that the fed can start easing back as well. emphasis on start, as we are still a long way off from jerome powell s stated goal of 2% inflation. so joining me now is nbc s tom costello, and the host of full disclosure robin farasad, he would have been here before. tom i can see you re looking to see what the rate hike is. we have it. breaking news. the fed is hiking rates by another half point, 50 basis points, as they say on wall street, half a point, that is the seventh rate hike so far this year. we ve already had four three-quarter rate hikes, four, that s a lot and a quick acceleration on the interest rate picture in this country as the fed tries to get the 40-year high inflation under control. and instead of raising by another three quarters of a percent, they raised by half a
problem. it is not going to be over quickly. the fed is seeing signs that inflation is starting to moderate, and it is now hiking rates by just a quarter, a half point, rather, rather than three quarters of a point, and we expect a quarter point hike next month. it is an incredibly complicated problem the fed has to get through. they don t want to overdo it. we re also looking for signs that they are going to hint at what the next rate hike might be. there is some chatter out there that the next one when it comes in february might be the last one for a while. what you are watching for? monday night football, are you ready for some rate hike? i mean why is everybody so excited? it s a half a point hike. we ve had more than four points of hikes, we started off the year at zero, and as you mentioned, katy, i m worried about february, it takes some time for the patient to show that the medicine is working and
labor market is a problem. because wages make up the largest cost and delivering these services, the labor market holds the key to understanding inflation meanwhile, the country appears to have dodged an economic bullet or freight train. after president biden signed a law imposing a new contract young railroads and their workers, to avert a crippling rail strike. the president taking a victory lap. we have now created 10.5 million jobs since i took office. more than any administration in history. at this point in a presidency. now the federal get the latest inflations out of the day before it decides whether to raise rates even more, by another half point we expect. it is searching for that goldilocks economy. not to, hot not too cold, somewhere right in the middle. but right, now the economy is running very hot. despite a very aggressive series of rate hikes so far this year, and probably more to come in the new year. okay, tom, costello thank you for. that meantime, as we h
how many more rate hikes could we be in for? we have had five this year. yeah, we have had five and had them really quickly, alex. it s rate hikes we have not had this many this fast in a very long time. and 11 million open jobs, and what that tells us is the labor market is still hot and still tight, which means wage pressure is there, and it will tell the fed we can t pump the brakes just yet, and there s nothing on the data on inflation that suggests rate hikes don t have much of an impact, outside of having a housing market. tomorrow we will get three quarters of a point, and what investors will be looking for is any signal they think they can slow down in december, go a half point and slower after that, and at some point, alex, it has not
TOKYO (AP) – Hong Kong’s share benchmark soared more than five per cent yesterday as Asian shares tracked gains on Wall Street. New Zealand’s share benchmark rose 0.7 per cent after its central bank hiked its benchmark interest rate to 3.5 per cent, saying inflation remained too high and labour scarce. The half-point rate hike […]