{"id":604163,"date":"2023-08-27T00:00:00","date_gmt":"2023-08-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/27\/inflation-still-too-high-more-rate-hikes-could-be-needed-fed-chair\/"},"modified":"2023-08-27T00:00:00","modified_gmt":"2023-08-27T00:00:00","slug":"inflation-still-too-high-more-rate-hikes-could-be-needed-fed-chair","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/27\/inflation-still-too-high-more-rate-hikes-could-be-needed-fed-chair\/","title":{"rendered":"Inflation still too high + more rate hikes could be needed -Fed chair"},"content":{"rendered":"

Powell\u2019s Jackson Hole speech spurs uncertainty: <\/strong>US Federal Reserve Chairman Jerome Powell hinted that the Fed could be forced to continue its aggressive monetary tightening cycle, citing persistent inflation as the US economy continues to register strong growth. \u201cWe are prepared to raise rates further if appropriate, and intend to hold policy at a restrictive level until we are confident that inflation is moving sustainably down toward our objective,\u201d Powell said in a much-anticipated speech on Friday at the central bank\u2019s annual get-together in Jackson Hole, Wyoming (watch, runtime: 15:40<\/a>). \u201cAlthough inflation has moved down from its peak \u2014 a welcome development \u2014 it remains too high,\u201d he added. <\/p>\n

Many investors were expecting the Fed to go a different direction <\/strong>after July inflation came<\/a> in slightly below analyst expectations<\/a>, inching higher to 3.2% y-o-y from 3.0% a month earlier and suggesting the Fed would have room to press pause on rate hikes at its next meeting in September. \u201cWhen it comes to another rate hike, the chair still very much has his finger on the trigger, even if it\u2019s a bit less itchy than it was last year,\u201d one economist told the Associated Press<\/a>. <\/p>\n

Can Instacart\u2019s IPO revive US listings? <\/strong>Grocery delivery company Instacart has filed the paperwork to IPO on the Nasdaq, it said in a statement<\/a>. If successful, the listing could help jumpstart a stagnant US IPO market that hasn\u2019t seen any major VC-backed tech debuts since December 2021, CNBC writes<\/a>. Instacart is yet to determine how many shares it will offer and at what price. Goldman Sachs and J.P. Morgan are acting as lead bookrunners. <\/p>\n

ALSO WORTH NOTING- <\/strong><\/p>\n