With U.S. inflation coming in below expectations for October, markets expected that the Federal Reserve policymakers would soon have to slow or stop the monetary policy tightening measures. However, Fed Governor Chris Waller said that markets had overestimated the significance of a single data point and that the U.S. central bank still has “a ways to go” on interest rate hikes.
Amid rising interest rates, sky-high inflation, and slowing growth, the third-quarter financial report turned out to be disappointing. Analysts are projecting that fourth-quarter U.S. earnings will decline for the first time in two years.
