Lowongan Rumah Potong AYAM SYAR'i

 The Fed’s move comes as governments around the world are struggling with a surging cost of living crisis. Soaring food prices have pushed inflation n the UK and on Thursday the Bank of England is expected to raise its base rat. Last month, the European Central Bank also  to tackle inflation, now at a record high of 10.7%.

US stock markets rose as the Fed indicated that the pace of rate rises could start to taper but sank as Powell made clear that rates would continue to rise and could stay high for longer than the Fed had first indicated.

The impact of rate rises takes time to filter through to the wider economy and while growth in the US housing market appears to be slowing, hiring has remained robust. It is expected to weaken as companies count the cost of higher borrowing.

The labor department will release October’s jobs data on Friday with economists expecting the US to have added around 200,000 jobs over the month and unemployment to stay close to a 50-year low of 3.5%.

On Wednesday ADP, the US’s largest payroll processing firm, reported private employers had added 239,000 positions in October, better than the 192,000 jobs added in September.

But ADP warned November’s job gains were not widespread - the leisure and hospitality sector accounted for 210,000 of the jobs added - and there were signs of a slowdown in other industries.

“This is a really strong number given the maturity of the economic recovery but the hiring was not broad-based,” ADP’s chief economist, Nela Richardson, said. “Goods producers, which are sensitive to interest rates, are pulling back, and job changers are commanding smaller pay gains. While we’re seeing early signs of Fed-driven demand destruction, it’s affecting only certain sectors of the labor market.”