The figure all but guarantees that the US Federal Reserve will raise its main policy rate by three quarters of one per cent when its next policy decision is announced on Wednesday next week.
Markets had begun anticipating such a hike since the end of August when Jay Powell, the Fed's chairman, gave a speech at a symposium of central bankers at Jackson Hole, in Wyoming, in which he said that the Fed would be prepared to risk a US recession if that was the price that needed to be paid for bringing US inflation under control.
At the same time, yields rocketed on US Treasuries, with the yield on two-year US Treasuries hitting its highest level since 2007.
Bad news! And more economic troubles!
Sticky… 😬🙄 Not good reading at all! Serious problems coming!
will you be leaving by then?