Viewpoint Hong Kong News: On October 19th, the US Federal Reserve's economic report, known as the "Brown Book," showed that economic activity in most Fed jurisdictions had little or no change, and the tight job market continued to ease while prices remained moderate. It is estimated that economic growth will slightly slow down in the short term.
The report points out that overall, companies expect prices to rise in the coming quarters, but the increase is lower than in previous quarters. The report shows that out of 12 Federal Reserve jurisdictions, 5 reported moderate economic activity growth, 3 reported almost no change, and 4 reported a slight contraction in economic activity, the highest since January.
In addition, several Federal Reserve officials have hinted that interest rate hikes will be suspended in the coming months. Federal Reserve Director Waller said that one can wait, observe, and observe economic development before taking clear action on interest rate policy. He pointed out that salary growth has slowed down, but American households have not seen spending cuts, and it is too early to know how the data has changed. He also said that it is not yet time to stop raising interest rates and will not discuss reducing them.
The President of the Federal Reserve Bank of New York, Williams, stated that the policy stance still needs to remain restrictive for a period of time to reduce inflation. He added that the Federal Reserve has made progress in reducing inflation, but there is still some way to go.