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  • Ballestas Group

FED Halt, Debt Talks, and Job Slowdown

Expectations are increasing that the FED will halt the rate hike at the next monetary policy meeting, given the April inflation data and the lag between monetary policies and their effects on price levels. In April, consumer prices rose 0.5% from the previous month and 4.9% from the previous year. The core CPI rose 0.4% in the month and 5.5% in the year, slightly below the previous month's 5.6%. In addition, basic services excluding housing only increased by 0.11% month-on-month, its lowest reading in eight months. However, prices for basic goods unexpectedly rose, led by an increase in used car prices.

Negotiations regarding the US debt ceiling are progressing. This week, President Joe Biden met with the leaders of the House of Representatives and the Senate. The meeting scheduled for Friday, May 12 was postponed to next week, as reported by White House sources, as progress is being made towards an agreement.

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