The Fed is also tipped to signal a slower path of cuts going forward amid uncertainty over the impact of President-elect Donald Trump's economic proposals
The consumer price index (CPI) rose to 2.7 percent last month from a year ago
The lame-duck president's speech comes after Trump won a second term largely on the back of US voters' anger at high costs of living under Democrats.
The labour market's resilience is driving the economy through strong consumer spending, with the closely watched employment report from the Labor Department on Friday showing solid wage growth last month
Holiday shoppers largely browsed at brick-and-mortar stores, making more online purchases at some retailers, snapping up such items as pre-owned Rolex watches,
The Federal Reserve has a dual mandate from Congress to keep both inflation and unemployment under control, and recently began rolling back high interest rates in order to better support the labor market
New York Fed President John Williams said inflation was now "within striking distance" of two percent.
The biggest sales during the annual day-after-Thanksgiving promotions were for toys, jewelry, household appliances, skin- and hair-care products, clothes and electronic devices
Trump, who won a crushing presidential victory this week, vowed during his campaign to slap 60 percent tariffs on all Chinese goods entering the United States in an attempt to balance trade between the two nations.
Gopinath told a fiscal forum at the IMF and World Bank spring meetings that US deficits are projected to rise for years with one of the world's steepest curves for debt.
In other words, the world is in disunion not just from wealth and income disparities, but through the widening digital and knowledge application gaps.
The consumer price index (CPI) came in at 3.2 percent last month
The jump in the unemployment rate after holding at 3.7 percent for three straight months reflected a further decline in household employment
The Federal Reserve System (Fed), the arbiter of monetary policy in the US, is facing a number of challenges
From tax cuts to new trade conflict with China, re-electing Trump will have a major economic impact
More companies are downgrading their earning estimation in the face of various economic and geopolitical factors
Higher interest rates are among the reasons the US has seen a surge in bankruptcy filings
IMF's managing director Kristalina Georgieva is hopeful about the US economy as inflation declines further
The U.S. economy likely grew in the third quarter at its fastest pace of any quarter in nearly two years, again defying dire warnings of a recession, as higher wages from a tight labor market helped to power consumer spending.
