Inflation relief checks live online: midterm results effect on the market, CPI, housing market, recession

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ICYMI: Unemployment and interest rates up

On Friday, the US’ Bureau of Labor Statistics revealed that unemployment in the country increased slightly to 3.7% in October – a potential effect of the Federal Reserve’s progressive interest rate rises.

Two days earlier, the Fed announced a fourth straight interest rate increase of 0.75% – the sixth hike this year – as it attempts to bring inflation down.

The Fed chairman, Jerome Powell, has said more rises are expected. “We have some ground to cover with interest rates before we get to that level that we think is sufficiently restrictive,” Powell told reporters last week.

(Photo: REUTERS/Elizabeth Frantz/File Photo)

 

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