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Latest inflation numbers soothe a market rattled by Fed’s hawkish rate cut
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Wall Street recovered on Dec 20 after inflation numbers showed the personal consumption expenditures price index rising by a mere 0.1 per cent in November.
PHOTO: EPA-EFE
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SINGAPORE – The latest November inflation numbers soothed markets that were nursing a bad midweek bruising caused by the US Federal Reserve’s hawkish rate cut last week.
After falling some 3 per cent on Dec 18 and 19, Wall Street recovered on Dec 20 after inflation numbers showed the personal consumption expenditures price index – the Fed’s preferred price measure – rising by a mere 0.1 per cent in November, and 2.4 per cent from a year earlier. It was below market expectations of 0.2 per cent, which would have matched the gains in September and October.
