• HINDI
  • JaiTV
  • Login
Ganga News Today
  • HOME
  • INDIA
  • WORLD
  • ENTERTAINMENT
  • BUSINESS
  • FASHION
  • TECH
  • LIFESTYLE
  • SPORTS
  • OTHERS
    • PEOPLE
    • OPINION
    • BREAKING NEWS
    • INFO
    • SOCIAL
    • VIDEOS
No Result
View All Result
Ganga News Today
  • HOME
  • INDIA
  • WORLD
  • ENTERTAINMENT
  • BUSINESS
  • FASHION
  • TECH
  • LIFESTYLE
  • SPORTS
  • OTHERS
    • PEOPLE
    • OPINION
    • BREAKING NEWS
    • INFO
    • SOCIAL
    • VIDEOS
No Result
View All Result
Ganga News Today
No Result
View All Result
Home WORLD

New York Fed Reports Decrease in US Inflation Pressures

by Ayushi
December 5, 2023
in WORLD
Central and state governments will closely monitor enforcement of stock limits to ensure no artificial scarcity of wheat is created.
X (Twitter)FacebookWhatsappTelegram

A report released on December 4 by the Federal Reserve Bank of New York highlighted a decrease in underlying inflation pressures in the United States during October compared to the previous month.

 

The Multivariate Core Trend (MCT) inflation gauge, disclosed by the bank, indicated a reading of 2.6 percent for October, down from September’s 2.88 percent. The bank attributed the higher MCT level, compared to its pre-pandemic average, to specific trends in housing and non-housing services.

RelatedPosts

WATCH | Heated argument among Trump, Zelensky and Vance in The Fight House

Jennifer Garvey Berger’s India Visit Sparks Leadership Transformation Amid Business Complexity

King Charles III First Public Appearance Since Cancer Diagnosis

 

This update coincides with the imminent final policy meeting of the year for Federal Reserve officials. Broad expectations suggest that they are likely to maintain the overnight interest rate target within the range of 5.25-5.5 percent.

 

Indications from various quarters suggest that the current rate target set by the central bank seems to be at its peak. Several Fed officials have conveyed in recent weeks that with inflation pressures significantly lower than their pandemic peak, they have the flexibility to assess new data before deciding on any adjustments to interest rates.

 

Federal Reserve Chairman Jerome Powell, speaking on December 1, noted that the economy is now “better balanced” and expressed satisfaction with the trajectory of economic development, stating, “We are getting what we want.”

 

New York Fed leader John Williams, in an address on November 30, remarked, “Based on what I know now, my assessment is that we are at, or near, the peak level of the target range of the federal funds rate.”

 

The NY Fed MCT reading aligns with a broader trend of declining price pressures. The index reached its peak in June 2022 at 5.44 percent. October’s figure also closely mirrored the six-month trend of the personal consumption expenditures price index, registering a 2.5 percent increase in October.

 

Powell, in his statement, acknowledged the recent lower inflation readings as positive, emphasizing the need for this progress to continue to reach the targeted 2 percent.

 

Williams anticipates the Fed closing in on its inflation target by 2025. Official updates on their inflation outlook are expected at the Federal Open Market Committee (FOMC) meeting scheduled for December 12-13.

Tags: Federal Reserve BankInflation PressuresInterest RatesNY Fed MCT IndexUS economy
Previous Post

Rajya Sabha MPs: Discuss Economic Situation in Winter Session

Next Post

The Top 5 Best Places to Work in India for 2023

Related Posts

WATCH | Heated argument among Trump, Zelensky and Vance in The Fight House

WATCH | Heated argument among Trump, Zelensky and Vance in The Fight House

March 1, 2025
Jennifer Garvey Berger’s India Visit Sparks Leadership Transformation Amid Business Complexity

Jennifer Garvey Berger’s India Visit Sparks Leadership Transformation Amid Business Complexity

February 28, 2025
In his first public appearance, after being diagnosed with a rigorous cancer, King Charles III attended Easter Sunday service in Windsor. He was also accompanied by Queen Camilla

King Charles III First Public Appearance Since Cancer Diagnosis

March 31, 2024
China has been helping Maldives in many ways to assist the island nation in dealing with water crisis, infrastructural development and “environmental protection work”.

China’s Growing Influence in Maldives

March 31, 2024
Israel-Hamas war: Israel will send a delegation to Cairo on Sunday, March 31, as truce talks between Israel and Hamas are set to resume today, Egyptian television station reported.

Resumption of Truce Talks Between Israel and Hamas in Cairo

March 31, 2024
Former US President Donald Trump criticizes President Joe Biden for declaring March 31 as Transgender Day of Visibility.

Trump Criticizes Biden for Declaring “Transgender Day of Visibility”

March 31, 2024
Next Post
Novo Nordisk GBS

The Top 5 Best Places to Work in India for 2023

Recent News

Vidyut Jammwal Joins the Spykar Movement with the Launch of Chico Fit

Vidyut Jammwal Joins the Spykar Movement with the Launch of Chico Fit

May 29, 2025

Digital Gold vs Physical Gold : Which is Better

May 14, 2025
Truecaller Introduces Scamfeed : A User-Powered Defense Against Scams

Truecaller Introduces Scamfeed : A User-Powered Defense Against Scams

April 29, 2025
TVS Motor Company Unveils the Upgraded TVS Apache RR 310 with Advanced Features

TVS Motor Company Unveils the Upgraded TVS Apache RR 310 with Advanced Features

April 26, 2025
Lava Announces Exciting Smartphone Offers; Agni 3 Available for as Low as ₹16,999

Lava Announces Exciting Smartphone Offers; Agni 3 Available for as Low as ₹16,999

April 22, 2025
What Indian Car Lovers Can Expect from the VinFast VF 6

What Indian Car Lovers Can Expect from the VinFast VF 6

April 17, 2025
  • ABOUT
  • CONTACT
  • PRIVACY
  • ADVERTISE
  • Hindi – हिंदी
FOLLOW US

© Ganga News Today

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • Login
DTV
  • HOME
  • INDIA
  • WORLD
  • ENTERTAINMENT
  • BUSINESS
  • TECHNOLOGY
  • LIFESTYLE
  • SPORTS
  • FASHION
  • HEALTH
  • PEOPLE

© Ganga News Today

Go to mobile version