US Federal Reserve Governor Lisa D Cook has expressed concern over inflation. He has said that despite some encouraging signs recently, inflation in the US remains very high. This is a matter of great concern for the country. He made these remarks earlier this week during his address at the 2023 Allied Social Science Association (ASSA) Annual Meeting in New Orleans Louisiana.
Lisa D Cook said that the ever-increasing inflation in the country is a matter of concern. Along with this, he also claimed that he is determined to bring inflation back to the US target of 2 percent. Cook said he spoke about 'considering inflation'. Further in his address, he said that the high and volatile inflation observed during the last two years reflects supply-chain disruptions as well as rapid changes in demand. This has created a massive demand-supply imbalance in various sectors.
As such, there is a need to remain vigilant to ensure that pandemic-period cost pressures and disruptions do not have a lasting impact on inflation. He further said that inflation expectations of households and firms could rise if inflation from cost erosion and supply disruptions persists for a long enough period. On the other hand, US central bank officials believe that in 2023 it would not be right to loosen the stance of monetary policy in terms of interest rates. According to the minutes of the latest policy meeting held on December 13-14, none of the participants estimated that it would be appropriate to lower the federal funds rate target in 2023.
Significantly, the consumer inflation rate was 7.1 percent in November. The US Federal Reserve recently hiked interest rates by 50 basis points (bps). The central bank's policy rate is now on target for 4.25-4.50 percent, the highest level in 15 years. In particular, it was near zero in the early part of 2022. This is the fourth consecutive increase in the magnitude of 75 basis points, before the recent increase of 50 basis points.
Raising interest rates is a monetary policy tool that usually helps suppress demand in the economy, thereby reducing the rate of inflation. Inflation in the US remains high, reflecting pandemic-related supply-demand imbalances, high food and energy prices, and broad-based price pressures.
Weather Update: Cyclonic storm Hamoon becomes dangerous, alert of heavy rain from Bengal to Tamil Nadu; Know the condition of other states including Delhi-UP
Changes are being seen in the weather of many states of the country. Light cold continues in the morning and evening. However, the Meteorological Department has issued an alert regarding the cyclonic
COVID-19: Reduction in new cases of corona in India, 7,633 cases in last 24 hours, active cases cross 61,000
Seven thousand 633 new cases of corona have been found in the last 24 hours in India. While there has been a decrease in new cases, the number of active patients is continuously increasing. Till
Salman Khan: 'Go to the temple and apologize or give five crores', Bishnoi gang threatens Salman Khan; message sent to police
Bollywood actor Salman Khan has once again received a death threat. A threatening message has been sent to the Mumbai Traffic Police in the name of the Lawrence Bishnoi gang. In this, Salman Khan has
IND vs AUS: After India's victory, KL Rahul revealed his strategy, said- 'Jadeja and I had a plan that...'
KL Rahul Statement, IND vs AUS 1st ODI. Team India opener KL Rahul was facing criticism for his poor performance in the recently concluded Border-Gavaskar Trophy. In the last two matches of this Test
MI vs RCB: Virat Kohli apologized to the fans by holding his ears, knowing what the demand made by the spectators at Wankhede Stadium
If Royal Challengers Bangalore's star batsman Virat Kohli is in the field then the atmosphere is sure to remain frozen. In IPL 2024, a high-scoring match was played between Mumbai Indians and Royal
Diljit Dosanjh: Diljit reacted to the news of being cozy with singer Taylor Swift, and said such a thing
Diljit Dosanjh And Taylor Swift: Punjabi and Bollywood singer Diljit Dosanjh was recently seen performing at Coachella, due to which Diljit has come into the limelight.
Gold Silver Price Today: Decline seen in bullion market; Silver falls by ₹8000, Gold cheaper by ₹1250
Gold and silver prices fell on Monday. According to the Bullion website, silver prices fell by ₹7,940 to ₹2.38 lakh per kg. Gold prices fell by ₹1,250 to ₹1.55 lakh per 10 grams.
USA: India's role will increase at the international level, US government claims - G20 chairmanship will be beneficial
A senior US government official says that India's role at the global level will increase in the coming days, adding that India and America will also come closer. Addressing people of Indian origin in
Earthquake in Tajikistan China: Strong earthquake in China after Tajikistan, 7.3 intensity on Richter scale
Earthquake tremors were felt in Tajikistan on Thursday morning. The United States Geological Survey reported that earthquake tremors were felt in Tajikistan at 5.37 am. The intensity of the earthquake
R Ashwin retired from international cricket, and followed the tradition of these legends including Dhoni.
India's veteran off-spinner Ravichandran Ashwin has announced his retirement. At the age of 38, Ashwin has announced his retirement from international cricket. He surprised the cricket world by
