Fed Jerome Powell has given a new indication of the direction of interest rates in the country through his speech yesterday.
As a result of the survey through the indications given by him, the interest rate decision to be announced at the November 2023 meeting is expected to be maintained at 5.50%. However, the probability of an interest rate hike for December 2023 and beyond still remains open.
Fed Powell will still monitor inflation component data such as "Employment Data", "Retail Sales" and "Producer Price Index (PPI)" to ensure that the inflation rate remains low and stable at the 2% level.
Geopolitical Situation
Earlier this morning, the President of the United States, Joe Biden, made a statement to obtain additional funding through the country's congress to support Israel and Ukraine.
As you already know, on September 30, 2023, the country's congress announced an extension for the submission of the country's spending bill for 45 days, which is expected to end in the second week of November 2023 before the "government shutdown" is implemented.
