US Federal Reserve keeps interest rate unchanged at 5.25%-5.50% as inflation sticks • FRANCE 24

US Federal Reserve keeps interest rate unchanged at 5.25%-5.50% as inflation sticks • FRANCE 24

Roy joins us a very good evening to you uh the US Federal Reserve has kept its Benchmark rate steady well Mark monetary policy makers have decided to keep the central bank’s key interest rate uh unchanged at the current range of 5 and a qu to 5 and a half% and now that’s the highest level in 23 years chairman Jerome Powell said while inflation has eased significantly over the past year it’s still too high and that while wage growth has slowed down the labor market remains tight at the same time though uh the he also announced the bank will scale back the pace at which it is shrinking its balance sheet starting next month that is that means that limit that the bank will limit the sale of Treasury bonds to $25 billion a month from the current $60 billion here’s chairman Powell speaking earlier we’ve stated that we do not expect that it will be appropriate to reduce the target range for the federal funds rate until we have gained greater confidence that inflation is moving sustainably toward 2% so far this year the data have not given us that greater confidence in particular and as I noted earlier readings on inflation have come in above expectations it is likely that gaining such greater confidence will take longer than previously expected well the statement from the Federal Reserve lifted Market sentiment initially wall Street’s main indices all gained momentum earlier on but just in the final hour reversed that Trend finishing the day on a mixed node with the Dow Jones up a quarter of a percent the S&P and the NASDAQ both down by about a third of a percentage Point pent up demand post pandemic has been a boon for tourism in many countries but over tourism is also becoming a problem tell us more well one example is in Japan that’s been seeing the huge numbers of foreign visitors arriving every month now uh and unruly Behavior by some foreign visitors has forced local authorities to take drastic measures vial takes a look tourism in Japan has exploded since it reopened in 2022 postco one factor fueling visitor numbers is the weak currency at its lowest level against the dollar since 1990 the devalued Yen encouraged es foreigners to spend more than they normally would I bought three pairs of shoes which I absolutely never do it wasn’t that they’re Japanese shoes I bought Converse which you can find back in France but the exchange rates made it really attractive however the Boom is bringing with it some undesirable consequences known for its idyllic Mount Fuji views this town became congested with tourists seeking the perfect snapshots so overcrowded in fact that authorities are building a black screen to block The View and deter people tourists begin to gather to take photos as early as 4 or 5:00 in the morning and they can be louds locals are struggling just to walk on their own streets further west in Kyoto’s gon District unruly tourist Behavior towards gishes has left areas off limits visitors will no longer be able to enter certain picturesque Alleyways with a 10,000 Yen find for non-compliance according to Japan’s tourism board overseas visitor numbers in March were over 3 million the first time they exceeded this figure in a single month and a 69.5% increase since its previous high in July 2019 it’s Mayday all over the world including of course here in France a data offer each other a lily of the valley the tradition here in France dating back to the 16th century it is said that it was King Charles I 9th who was the first to offer the flower on May the 1st as a symbol of good fortune and today it is Big Business according to one study some 1.4 million people bought bouquets of lily of the valley though that was down from 2.3 million in 2019 it’s still generated tens of millions of Euros French law allows anyone to sell the flower which is mugay in French in public spaces provided that the sprays come from private Gardens or picked in forests so opportunity for families and even kids to make a bit of money and to share their Goodwill with the local community I actually didn’t know but it is one day where anyone you and I could go pick up the flowers and then and then sell on the streets walking our dog in the forest earlier where I live outside Paris there were loads of people getting mugay and I passed about three stalls on the way to the edge of town actually selling people those little bits of lily of the valley so maybe next year we could set ourselves up a little business what think yeah we’re going to do it you heard it here first yuka’s flowers there we go

The US Federal Reserve has decided to keep its benchmark interest rate steady at 5.25 to 5.50 percent. Fed Chairman Jerome Powell said while inflation has eased significantly over the past year, it’s still too high, and that while wage growth has slowed down, the labour market remains tight. The US central bank will slow down the pace of quantitative tightening from next month, reducing the cap on Treasury bonds it allows to run off each month to $25 billion from the current $60 billion. 

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