The US Federal Reserve signals a slowdown in interest rate growth

Financial markets soared overnight as most members of the US Federal Reserve signaled an easing of inflated interest rates to quell inflation.

Sky News business editor Ross Greenwood says overall this should be “pretty positive news” for the markets.

“And the US market did reverse overnight after the news that most members of the US Federal Reserve believe that interest rate hikes, which have been at excessively high levels in the United States, should start to ease,” he said.

“And the reason for this is largely because they are seeing a slowdown in inflation, although they are not returning to the levels that they would like.”