Inflation continues to loom large over American households, but there’s a glimmer of hope on the horizon. Recent months have witnessed a gradual slowdown in the rate of increase, providing a crucial backdrop as the Federal Reserve maps out its next moves following a series of 11 interest rate hikes, totaling 5.25 percentage points.
Anticipation is mounting, as market indicators strongly suggest that the Fed is unlikely to raise benchmark rates in the upcoming week. While central bank officials hinted at the possibility of one more rate hike before the year’s end back in June, the latest data from CME Group paints a different picture. Thursday morning’s market futures reveal a 42% likelihood of a rate adjustment in November, keeping investors and experts on their toes.
In a related development on Thursday, a third economic report revealed that initial jobless claims inched higher to 220,000 for the week concluding on September 9, as reported by the Labor Department. Interestingly, this figure landed slightly below the Dow Jones estimate of 225,000, adding an element of surprise to the economic landscape.
