Fed Officials Support a Quarter Point Rate Rise

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Colby Smith: The Fed is not near done yet in terms of squeezing the economy. Most officials are still targeting the Fed fund's rate eclipsing 5%. That suggests that there's still several more interest rate increases to come. A slower pace does not mean less commitment to fighting inflation, he says.

Annual US inflation fell in December to its lowest level in more than a year, and Sweden’s state-owned mining company LKAB has said it has discovered Europe’s largest deposit of rare earth metals. Plus, the FT’s Jonathan Wheatley and Farhan Bokhari discuss Pakistan’s financial crisis.

Mentioned in this podcast:

US inflation falls to lowest level in more than a year

Pakistan secures more than $9bn of pledges for post-flood recovery

Sweden discovers biggest rare earths deposit in EU

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The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

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