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The Hindu Editorial Analysis
The Importance of Reading The Hindu Editorial: Reading The Hindu newspaper has several benefits, including improving reading skills, facilitating comprehension, staying informed of current events, enhancing essay writing, and more. For individuals aiming for a career in banking, reading editorials is crucial for vocabulary building. In this article, we will examine today’s editorials, provide practice questions, and highlight important vocabulary words.
- The US Federal Reserve held interest rates steady on Wednesday but stiffened its hawkish stance, with a further rate increase projected by the end of the year and monetary policy kept significantly tighter through 2024 than previously expected.
- As they did in June, Fed policymakers at the median still see the central bank’s benchmark overnight interest rate peaking this year in the 5.5-5.75% range-just a quarter of a percentage point above the current range.
- But from there, the Fed’s updated quarterly projec tions show rates falling only half a percentage point in 2024 compared to the full percentage point of cuts anticipated at the meeting in June.
- With the federal funds rate falling to 5.1% by the end of 2024 and 3.9% by the end of 2025, the central bank’s main measure of inflation is projected to drop to 3.3% by the end of this year, to 2.5% next year and to 2.2% by the end of 2025.
- “Inflation remains elevated,” the rate-setting Federal Open Market Committee (FOMC) said in a policy statement that included projections incorporating stronger economic and job growth than prior forecasts, and keeping prospects for a “soft landing” squarely in view.
- Financial markets had widely expected that the Fed would leave rates unchanged.
- While investors have been banking on significant Fed rate cuts next year, the expectations are clouded by the projections showing 10 of 19 officials see the policy rate remaining above 5% through next year.
- Inflation remains elevated,” the rate-setting Federal Open Market Committee said.Discuss
- The central bank’s main measure of inflation is projected to drop to 3.3% by the end of this year.Discuss
- Unfathomable– incapable of being fully explored
- Culpable– responsible for something bad
- Diabolical– characteristic of the devil
- Eventuate– occur as a result
- Whimsy– playfully quaint or fanciful behavior
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