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US stocks gain as Federal Reserve signals rates pullback, Australian dollar jumps above 67 US cents

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Wall Street rises after US Federal Reserve official Lael Brainard says the central bank could start to ease back on steep interest rate hikes after last week's inflation data. The Australian dollar surges above 67 US cents.

abc.net.au/news/asx-wallstreet-markets-currencies-commodities/101653764US stocks have increased again after US central bank officials indicated that the Federal Reserve will likely slow its interest rate rises.

She told Bloomberg last week's inflation data was "reassuring" after US consumer prices eased back over October to 7.7 over the year., sparking a share market rally."I think what's really important to emphasise is we've done alot but we have additional work to do both on raising rates and sustaining restraint to bring inflation down to 2 per cent over time."

The market is betting that the central bank may raise rates by 0.5 percentage points, instead of the supersized 0.75 percentage points that it has announced four times in a row this year.

 

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