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Briefs: US Fed raises interest rates; manufacturing output down while headline and core inflation figures ease in June

The Edge Singapore
The Edge Singapore • 6 min read
Briefs: US Fed raises interest rates; manufacturing output down while headline and core inflation figures ease in June
Singapore's manufacturing output contracted in June while headline and core inflation moderated. Photo: The Edge Singapore
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Quoteworthy: "And soon we shall bid adieu to the twitter brand and, gradually, all the birds." –— Tweeted Elon Musk just as he announced the rebranding of Twitter to X, an “everything app” that would encompass not only social networking but also banking and shopping

Fed raises interest rates to 22-year high, leaves door open for more

The US Federal Reserve resumed raising interest rates and Chair Jerome Powell left open the possibility of further hikes, which he emphasised will depend on incoming data that has recently signalled a resilient US economy.

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