The Fed’s interest rate decision on Thursday coincides with the electoral victory of Donald Trump, who won both the popular and Electoral College votes in a strong political comeback in U.S. history, with promises of lowering inflation.
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Here’s why gold prices hit record high (again)
Central bank purchases have been key in driving up gold, often considered a haven in times of uncertainty and turmoil. Global uncertainties and the Federal Reserve slashing interest rates this year giving bullion a lift.
Inflation trends under each U.S. president since 1953
Inflation drivers are often complex and it’s essential to understand that new presidents often inherit economies, shaped by their predecessors.
Inflation comparison: U.S., G20 and European Union
G20 comprises Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, the U.K. and the U.S., as well as the European Union, represented by the rotating council presidency and the European Central Bank. In June 2022, both U.S. and G20 inflation reached 9.1%, according…