The Fed delays rate cuts to September 2024. On Tuesday, Federal Reserve Chair Jerome Powell said that there was a lack of further progress on inflation. This means that the central bank will likely NOT cut interest rates at its upcoming policy meeting which is two weeks away. The US and Singapore stock market tumbled upon the news that the Fed will most likely delay rate cuts from May to September 2024. Let us take a look at the recent inflation data below.
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As you can see from the chart above (taken from the U.S Bureau of Labor Statistics), the inflation rate in US accelerated for a second straight month to 3.5% in March 2024 from 3.2% in February 2024. In fact, inflation in US was on an uptrend since January 2024, the beginning of the year. The...
