Wolf Money(world market review 24-30 July 2023)
Salvador Dali Spain 1904-1989 Nude Women Ascending The Staircase circa 1974 Collection of Parkview Square Market Summary 24-30 Jul 2023 🇺🇸 🇺🇸 🇺🇸 🇺🇸 🇺🇸 - Fed raised benchmark lending rate to highest level since 2001 to 5.25%-5.5%, signalled possibility of further increase ahead + US annual inflation rate fell to lowest in 2 years, likely closer to ending its fastest interest rate hiking cycle since 1980s + US GDP grew stronger than expected in Q2 at annualised, seasonally adjusted at 2.4% + Fed’s staff drop US recession forecast, do have shot for inflation to return to target without high levels of job losses: Powell + US personal consumption expenditures (PCE) rose by US$100.4bn or 0.5% MoM in Jun + US consumer sentiment rose in Jul to highest since Oct 2021 to 71.6 as inflation continued to ease - Biden to sign order curbing US tech investments in China by mid-Aug - US commerce chief says China export controls “will den...