Jerome Powell, the Chair of the U.S. Federal Reserve, suggested a cautious approach toward future interest rate cuts, reflecting the Fed's prudence amidst signs of economic stability while addressing inflation concerns.
As the yield on the 2-year Treasury bond increased by 6 basis points to 4.34%, the market perceived that the Fed may postpone expansive policy, reacting to the economic strength observed in certain sectors.
The U.S. Producer Price Index rose 0.2% month-over-month in October, indicating inflationary pressure at the wholesale level, potentially leading to higher consumer prices in the near term.
The Core Producer Price Index, which rose by 0.3% month-over-month, indicates persistent inflationary pressure, underscoring the Fed's cautious approach to monetary policy given the current economic landscape.
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