One of the Federal Reserve's most consistent supporters of low-interest rates on Wednesday said he is with the majority of his colleagues in supporting further rate hikes this year, given the progress on the U.S. central bank's goals of full employment and stable inflation.
European stocks held near 15-month highs and the dollar strengthened against other top global currencies on Thursday on growing expectations the U.S. central bank will raise interest rates later this month.
The financial market looked set to open lower on Thursday as the Federal Reserve gave little insight into whether it would raise interest rates at its next meeting, even as the central bank painted an upbeat picture of the economy.
U.S. homebuilding fell more than expected in November, tumbling from a nine-year high as construction activity declined broadly, which could prompt further downward revisions to fourth-quarter economic growth estimates.
U.S. consumer prices moderated in November, but the underlying trend continued to point to firming inflation pressures amid rising rents, which could support more interest rate increases from the Federal Reserve next year.
U.S. consumer prices moderated in November, but the underlying trend continued to point to firming inflation pressures amid rising rents, which could support more interest rate increases from the Federal Reserve next year.
Only "significant negative news" could derail the Federal Reserve's high expectations for raising U.S. interest rates next month, a Fed official who has recently advocated for policy tightening said on Tuesday.
U.S. consumer prices increased more than expected in August as rising rents and healthcare costs offset a drop in gasoline prices, pointing to a steady build-up of inflation that could allow the Federal Reserve to raise interest rates this year.
