The Fed is done hiking interest rates. Now come the bets on when it ...

US inflation remained steady last month, indicating that the Federal Reserve’s interest rate hikes have come to an end. The consumer price index (CPI) rose 0.4% in October, with a 3.2% increase over the past 12 months. Lower gas prices were offset by rising rents, according to the Bureau of Labor Statistics. Wall Street analysts believe the hikes are over based on this report, although inflation remains below the 2% target. The stock market responded positively, with the Dow Jones Industrial Average rising 500 points. Interest rates are predicted to start decreasing in March 2024, with mortgage rates expected to ease in the second half of next year. Despite the positive economic outlook, US consumers, including billionaires, are feeling more negative than before the pandemic. Rent prices continue to rise, impacting both individuals and businesses. Small business owners are not optimistic about the remainder of 2023, citing labor and energy costs as challenges.