BBCNEWS Asia July 1, 2024
that number has remained higher thanks in part to persistently high housing costs. raising interest rates is meant to combat inflation. higher interest rates make it more expensive to borrow money and that is supposed to tempt down spending which in turn should tame runway prices. president biden praised the data as good news and called on large corporations to pass the savings on to consumers. now it is up to the fed to decide whether they have done enough work to help prices return to normal. that would mean holding interest rates steady and that is what they are expected to do on ...