THE ECONOMIC PERISCOPE: LATEST TRENDS AND DEVELOPMENTS
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- Economy Overview
- THE ECONOMIC PERISCOPE: LATEST TRENDS AND DEVELOPMENTS
The Fed has kept its major interest rate unchanged but does not rule out further rate hike possibilities. The next meeting is due on 1 Nov’23. The second estimate of the annualised quarterly change in the value of all goods and services produced by the US during Q2 climbed from 2.0% to 2.1%, below expectations of 2.4%. The latest report is on track to achieve the FOMC 2023 change in real GDP forecast of 2.1% (revised up from 1.0%).