8 elm condo review.The real estate boss was arrested? Consumers are more optimistic about inflation in November, with food and energy prices expected to rise less sharply in the coming year, according to a survey released by the Federal Reserve Bank of New York on Monday.Please Visit: 8 elm condo review to Get Your VVIP Registration Today!
According to the survey, respondents expect one-year inflation to be 5.2%, down 0.7 percentage points from October. This is the lowest level since August 2021. August 2021 is the early stage of a surge in inflation that has plagued the US economy and prompted the Fed to take a series of aggressive interest rate hikes, which are likely to continue this week. The consumer price index (CPI) for October showed the latest annual inflation rate of 7.7 per cent.
In addition to an improved short-term outlook, inflation is expected to fall slightly to 3 per cent over the next three years, down 0.1 percentage points from the previous month. A relatively new series of data reflecting the five-year outlook fell by the same level to 2.3 per cent.
The investigation comes as Fed officials have hinted that policymakers may raise interest rates by 0.5 percentage points this week when they conclude a two-day meeting on Wednesday. If so, it would be the seventh rate hike this year, and the Fed’s benchmark short-term borrowing rate would rise to a target range of 4.25 per cent, the highest level in 15 years.
However, the inflation news has improved at least slightly in recent days, a trend that will be reflected in the post-meeting communication between the rate-setting Federal Open Market Committee and Chairman Colin Powell.
The next key inflation data will be released on Tuesday, when the Labor Department will release its consumer price index for November, the report said. Economists surveyed by Dow Jones expect the report to show a monthly growth of 0.2% and an annual growth rate of 7.3%. Excluding food and energy, core CPI forecasts are 0.4 per cent and 6.1 per cent, respectively.
According to CNN, U.S. Treasury Secretary Janet Yellen said in an interview that she was cautiously optimistic about 2023, predicted that inflation would cool sharply, and stressed that there was no need for a recession to bring prices back under control.
Like many economists and even the Fed, Ms Yellen had been too optimistic about inflation. Earlier this year, she admitted that her view of the inflation path was “wrong”.
In addition, the Wall Street Journal reporter Nick Timiraos, known as the “Fed mouthpiece” and the “New Federal Reserve News Agency”, wrote on Monday that the Fed has been divided into doves and hawks about how long the Fed’s current rate hike should last.
Some expect inflation to cool steadily next year and want to stop raising interest rates as soon as possible, Timiraos said. Others worry that inflation will not moderate enough next year, which will require raising interest rates or keeping them at that level for longer, increasing the likelihood of a sharp decline.