Top 6 – June 2017
“The central bank voted to raise its key rate target to a range of 1% to 1.25%.
That’s the highest level since 2008, when policymakers cut rates to encourage borrowing and spending after the financial crisis.” – BBC News
- “Our decision … reflects the progress the economy has made and is expected to make,” said Federal Reserve Chair Janet Yellen
- “Data on Wednesday showed US consumer prices unexpectedly fell in May and retail sales recorded their biggest drop in 16 months.”
- Should the Fed have done it?
- “Inflation is below the target of 2%. But then Fed Chair Janet Yellen thinks a large part of that is down to falls in specific prices.”
- “The rate rise continues the Fed’s slow return to normality after the financial crisis. The journey is not over.”
- Per economic history, we just have to wait and see.