Brief by Shorts91 Newsdesk / 09:00am on 07 Nov 2024,Thursday International
The US Federal Reserve is set to announce its latest interest rate decision today at 14:00 EST, with experts predicting a second consecutive cut as inflation slows. However, the central bank must also consider the potential impact of President-elect Donald Trump's policies, including higher import taxes, which could fuel inflation. Trump's election victory sent the US dollar soaring by 1.65% against other major currencies. Concerns also surround Trump's potential influence on the Fed's decisions, given his past criticism of Chair Jerome Powell and the bank's independence. The Fed's decision will be closely watched by investors and economists alike.
