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BBCNEWS Asia July 5, 2024



and it has fallen pretty sharply from its peak of more than 9% injune of last year. it is a sign that the federal reserve s moves to raise interest rates to slow down inflation seems to be working. but analysts still think america s central bank will raise interest rates one more time at their next meeting. now, the cooler inflation is good news for consumers but it is also good news for us presidentjoe biden, who touted the administration s efforts to bring prices down. now, he s facing re rlection next year and being able to control inflation without pushing the economy into a recession will be key if he want another four years in the white house. william lee is the milken institute chief economist and he says everyone is wondering whether this is a turning point. that is the ultimate question at the fomc and all the central banks around about asking themselves, has it peaked? a lot of the inflation decreases have come about because supply chain to become restored aro ....

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BBCNEWS Asia Business Report June 4, 2024 00:32:00

That is the ultimate question at the fomc and all the central banks around about asking themselves, has it peaked? a lot of the inflation decreases have come about because supply chain to become restored around the world and consumers are able to get the kind of stuff they want to buy but one of the things defence is concerned with, even though the headlines numbers are down to 3%, way down from nine, the core rate of inflation, excluding the bulk of it energy component is still pretty high, nowhere near the 2% target. we have a good downpayment but i think we have yet to see convincing evidence that the turn has actually arrived in a convincing way. what does that mean for the federal reserve s next move? move ? we were move? we were expecting two more hikes. has this latest inflation data changed that or not? i do not think most of the members of the committee will believe this is enough. they are going to say, we have been there before and we have seen occasions where inflation rate ....

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