Robert Willis

The US Federal Reserve hiked its target lending rate today by another 75 basis points and reiterated its resolve to keep raising rates until it succeeds in tamping down inflation.

The US added 263,000 nonfarm jobs in September, a sign Federal Reserve monetary tightening is slowing demand, even as the latest job numbers suggest the labor market remains solid.

US producer price gains slowed in September from a year earlier, but posted a greater-than-expected monthly gain on higher service costs.

Gains in consumer prices in the US slowed less than most analysts’ forecasts and so-called core inflation accelerated to a four-decade high, a sign inflation pressures continue to build even as the Federal Reserve aggressively hikes interest rates. The consumer price index (CPI) —…

The US economy grew at an annual rate of 2.6pc in the third quarter, led by gains in exports, following two quarters of contraction.

US economic growth slowed sharply to an annual rate of 2pc in the third quarter, reflecting a resurgence in Covid-19 cases and associated restrictions, reduced government assistance and supply chain constraints.

US manufacturing activity in October fell to the lowest level in nearly two and a half years, but gains in production and new orders and improved supply chain performance provided some resilience.

The US Federal Reserve has hiked its target rate by 75 basis points for a fourth consecutive time while signaling that it may slow the pace of future rate increases.

Consumer price inflation slowed in October for a fourth month in a row, as gains in costs of energy, food and goods eased on the back of aggressive Federal Reserve monetary tightening.

US inflation rose at the fastest rate in 39 years, led by gains in energy prices as the economy roared back from last year's Covid-19-induced recession.