The Federal Open Market Committee (FOMC) of the Federal Reserve (Fed) has decided to lower interest rates to a target range of between 1.75% and 2%, which becomes in the second consecutive reduction in 2019 of the monetary authority. The Fed has justified its decision that "global developments" for the economy remain downward, as well as "weak inflationary pressures . "
The US labor market generated 130,000 non-agricultural jobs during the past month of August, while the unemployment rate remained stable at 3.7%, so it was close to the historical low since 1969, according to data from the labor statistics office of the Department of Labor of the North American country.
The economy experienced an annualized growth of 2% in the second quarter, representing a fall of 1.1 percentage points with respect to the previous quarter, according to the second estimate of the data published almost three weeks ago by the Office of Economic Analysis of States United.
On the other hand, the index of prices of personal consumption expenditure, the variable preferred by the Fed to monitor inflation, was last July, last available data, at 1.4% compared to the same month of the year past. The monthly rate was 0.2% in the seventh month of the year, one tenth more than the previous month. The underlying variable, which excludes energy and food prices from the calculation due to its greater volatility, stood at 0.2%, the same figure as the previous month, while 1.6% rose in annual rate, Like the previous month.
According to the criteria of The Trust Project
Know more