The October inflation report came in lower than expected, indicating that inflationary pressures are easing. While Federal Reserve Chair Jerome Powell signaled a slowdown in this month’s interest rate hike, he stressed that borrowing costs would remain high for the foreseeable future in a bid to fight the worst inflation in 40 years.
He added that the terminal rate is likely to be “somewhat higher” than the 4.6% projected by policymakers in September.
