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The Fed just raised its forecast for the economy. Its chair sees risk in strikes, surging oil.

From politico.com

Federal Reserve officials on Wednesday gave the clearest signal yet that they expect to be able to beat inflation without causing a recession. But Chair Jerome Powell delivered a warning that new risks including surging oil prices — which he called “a significant thing” — and the autoworkers’ strike could upend the forecasts. The central bank held interest rates steady for just the second time this year as it assesses the extent to which the highest borrowing costs in more than two decades are already helping tame inflation. Fed policymakers now expect the economy to grow 2.1 percent this year — a modest pace but ... (full story)

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  • Category: Fundamental Analysis