Page 19 - Fed Rate News Today : Breaking News, Live Updates & Top Stories | Vimarsana

A senior US Federal Reserve official stated that the central bank can afford to wait for now, but did not rule out another rate hike in the future to tackle inflation. The Fed has raised interest rates 11 times since last year to control inflation, but inflation remains above the target of 2%. The US job market has also shown signs of softening. The Fed governor's comments align with the cautious view expressed by the Fed Chair. Investors and analysts expect the Fed to pause its hiking cycle at the next rate-setting meeting in September.

Commodities look poised to benefit should the Fed rate hike cycle be at an end. DXY and Market Sentiment likely to drive Gold, Silver prices this week as we have limited US data on the docket.

A directional move in the rupee is likely only if the local unit gains beyond 82.50 or weakens below 83, said Dilip Parmar, a foreign exchange research analyst at HDFC Securities.

The US Federal Reserve raised its benchmark lending rate on Wednesday to the highest level since 2001 to tackle above-target inflation, and signaled the possibility of further increases ahead.

The new hike, which was announced after a two-day meeting of the Fed’s top decision-making body, take the rate to the highest level in 22 years — to between 5.25 and 5.50 per cent.