For the past few months, inflation has crept back up steadily, causing significant headaches for policymakers, central bankers and investors who had been expecting not one but several interest rate cuts over the course of 2024.
It leaves the US Fed in a particularly tricky position. 'For the Fed, the threshold to raise rates is still greater than the threshold to cut,' Diane Swonk, chief economist at consultancy KPMG US, told DW.
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