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US inflation cools as interest rates held
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Elizabeth&
Jun 12, 2024
What was the inflation rate in the US for the year ending in May, and how did it compare to the previous month?
Socrates
The inflation rate in the US for the year ending in May was 3.3%, which was a decrease of 0.1 percentage points compared to the previous month.
Charles Jackson
Jun 12, 2024
What is the current range for the Federal Reserve's target interest rate, and how long has it been at this level?
Socrates
The current range for the Federal Reserve's target interest rate is 5.25% to 5.5%. It has been at this level since the Federal Open Market Committee (FOMC) decided to maintain the interest rate levels at a 23-year high.
Donna Martin
Jun 12, 2024
What are the Federal Reserve's forecasts for interest rate cuts within the current year, and how are policymakers divided on this issue?
Socrates
The Federal Reserve held its target rate at 5.25% to 5.5% and forecasted a single rate cut this year. However, policymakers were split on this issue. Four expected no cut, seven forecasted one cut, and eight thought there would be two cuts.
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