The Fed's Dilemma Echoes Across the Globe The Hong Kong Monetary Authority has decided to maintain its base rate at 4%, a move closely watched by markets and analysts who are questioning whether the Federal Reserve is losing ground in its fight against inflation.
This decision follows the US central bank's recent decision to keep its benchmark rate steady, amidst a sharp decline in the stock market.
The US stock market has taken a hit, with the Dow Jones falling 1,152 points or 2. 2%, and the S&P 500 dropping 1. 5%. The bond market is also sending warning signals that the Fed's efforts may be faltering.