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.
After Sonam's arrest in the Indore Couple Case's Raja Raghuvanshi murder case, her father Devi Si
The para archery pair of Sheetal Devi and Rakesh Kumar won the bronze medal by defeating the pair
On the occasion of the completion of 75 years of making the Constitution, a two-day discussion wi
Salman Khan loves his younger sister Arpita Khan Sharma very much. There is a great bond between
After the crushing defeat of the Aam Aadmi Party in the Delhi Assembly elections, questions have
India defeated England by 150 runs in the fifth and final T20 to win the series 4-1. This was Tea
Delhi Chief Minister Arvind Kejriwal has written a letter to Lieutenant Governor VK Saxena from j
Pakistan Railways (PR) is currently running into a lot of trouble as its passenger train and good
Kathua Cloudburst: People were sleeping... a strong current came, people ran to the roofs to save their lives, household was destroyed; there was nothing left to eat
The flood caused by a cloudburst in Kathua on Sunday morning destroyed everything. People were sleep
Heavy Rain in Himachal: The rain has created a ruckus in Himachal Pradesh. It has been raining co
