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US Industrial Production rises 0.3% in September vs. 0% expected
Industrial Production in the United States (US) grew 0.3% on a monthly basis in September, the Federal Reserve reported on Tuesday. This reading following the 0.4% expansion recorded in August and came in better than the market expectation for a no change. Other details of the report revealed that the Capacity Utilization held steady at 79.7%. The US Dollar Index clings to modest daily gains slightly below 106.50 after this report.
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post: *Barkin Favored Rate Hold, Have Time to See if More Hikes Needed *Fed’s Barkin: Fed Making Progress on Inflation, ‘Aren’t There Yet’ *Fed’s Barkin: Fed Walking Fine Line on Over- and Undercorrection *Fed’s Barkin: if Recession Comes, Economy Should Be Less VulnerableBarkin: Looking Beyond Recent Data Thank you for that kind introduction and for having me with you. You may know that the last time the Fed tackled high inflation, in the ’80s, homebuilders sent Paul Volcker two-by-fours inscribed with the message: Lower interest rates. I look forward to hearing from you today but am hoping you checked your lumber at the door. To set up our discussion, I thought I might share how I am seeing the economy. Let me caution these are my thoughts alone and not necessarily those of anyone else in the Federal Reserve System. As you well know, the Fed has moved aggressively against inflation that was way too high. We have raised rates 525 basis points in just a year and a half. Hopefully you agree we needed to take action because, if there is one thing we have relearned over the past two years, it is that everyone hates inflation. High inflation creates uncertainty. As prices rise unevenly, it becomes unclear when to spend, when to save or where to invest. Inflation is exhausting. It takes effort to shop around for better prices or to handle complaints from unhappy customers. And inflation feels unfair — the wage increase you earned feels arbitrarily taken away at the gas pump. We are the folks mandated to tackle inflation, but we only have one prima
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- Posted: Oct 17, 2023 9:28am
- Submitted by:Category: Low Impact Breaking NewsComments: 0 / Views: 2,411
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