March 15, 2023
1 min read

US inflation eases in February, but numbers are high

Raising interest rates typically help in cooling demand in the economy and thus help in managing inflation…reports Asian Lite News

Consumer inflation in the US moderated in February to 6.0 per cent from 6.4 per cent the previous month, but still the numbers are way above the 2 per cent target.

It was at 6.5 per cent in December, and 7.1 per cent the month before. The US central bank’s policy rate is now in a target range of 4.50-4.75 per cent, the highest level in 15 years, and notably, it was near zero in the early part of 2022.

Raising interest rates typically help in cooling demand in the economy and thus help in managing inflation.

Despite inflation moderating in recent months, the process of getting it back down to two per cent is still a long way away and the path is likely to be bumpy, said US Federal Reserve Chair Jerome Powell earlier this month.

At the latest monetary policy meeting, a few participants too favored raising the target range for the federal funds rate by 50 basis points, noting that a larger increase would more quickly help in achieving price stability, Minutes of the latest monetary policy meeting of the US Federal Reserve showed. (ANI)

ALSO READ: UK, US to supply N-submarines to Australia

Previous Story

Fed governor: US banking system remains resilient

Next Story

360,000 residences without power as storm lashes California

Latest from USA

‘Modi’s a Very Good Friend’: Trump

Trump’s remarks come days after Modi called him to congratulate on the “success” of the Gaza peace plan….reports Asian Lite News US President Donald Trump on Monday lauded India and described Prime

India, US Step Up Trade Talks

The development comes in the backdrop of the new US ambassador Sergio Gor taking charge in the US embassy is New Delhi….reports Asian Lite News India and the United States are progressing

Trump to Fix the World, Again

Trump said, “Think about India, Pakistan… wars lasting decades with millions killed. I got most of them done, pretty much, within a day. It’s pretty good.”…reports Asian Lite News US President Donald

Trade War Back On?

Alongside with Tariff, Trump has also rolled out new export controls on critical software….reports Asian Lite News After a period of relative calm, with four major rounds of trade negotiations between the

Pentagon Told: Pay the Troops

The US federal government entered a shutdown on October 1, marking the first shutdown in nearly seven years. …reports Asian Lite News US President Donald Trump said on Truth Social that he
Go toTop

Don't Miss

No sanctions on those ‘rethinking’ ties with Russia

Blinken doesn’t specify what shape or form that action would

Etihad doubles down on North America

The decision to increase Boston flights to daily is based