Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

The Fed has kept the interest rate at the level of 5.25-5.5% per annum


June, 13 2024
watermark Economic news

The US Federal Reserve System (FRS) has kept the interest rate at 5.25-5.5% per annum, as reported in the final statement of the Federal Open Market Committee (FOMC). This decision coincided with the forecasts of most analysts and economists.


At the moment, the rate is at its highest level in the last 23 years. According to the median forecast of the Fed's leaders, the rate will be reduced by only 25 basis points (bp) in 2024 and by 100 bp in 2025.


The regulator's press-release says: «Recent data indicate that economic activity continues to grow at a steady pace. Job growth remains significant and the unemployment rate remains low. Inflation has weakened over the past year, but remains elevated.»


According to data from the US Department of Labor published on Wednesday, the growth rate of consumer prices (CPI) in May slowed to 3.3% from 3.4% in April. Inflation excluding the cost of food and energy (Core CPI index) fell to 3.4% from 3.6%.


The FOMC continues to strive to achieve maximum employment and inflation at 2% in the long term. The Committee believes that the risks to achieving these goals have become more balanced over the past year. The economic outlook remains uncertain, and the FOMC remains very attentive to inflation risks.


The Fed also intends to continue reducing the amount of assets (government bonds and mortgage-backed securities) on its balance sheet.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.