In the Margins

Are conditions right for December rate hike?

November 17, 2016

By Reuters

U.S. consumer prices recorded their biggest increase in six months in October on rising gasoline costs and rents, suggesting a pickup in inflation that potentially clears the way for the Federal Reserve to raise interest rates in December. Prospects for a rate hike next month also got a boost from other data on Thursday showing first-time applications for unemployment benefits tumbling to a 43-year low last week and housing starts surging to a nine-year high in October. "Today's data give the Fed more evidence to support a rate hike next month," said Alan MacEachin, corporate economist with Navy Federal Credit Union. "The only thing standing in the way at this point would be a disastrous jobs report in early December, a remote possibility at best." Read the original story from Reuters.

 

 

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