The number of job openings in the United States has fallen less than expected in November as the labour market remains tight, which could see the Federal Reserve raise interest rates more than currently anticipated to tame inflation.There was, however, encouraging news in the fight against inflation. A survey from the Institute for Supply Management on Wednesday showed prices paid by manufacturers for inputs dove in December to their lowest level since February 2016 if a plunge early in the COVID-19 pandemic is discounted.The Fed is engaged in its fastest interest rate-hiking cycle since the 1980s as it tries to dampen demand, including for labour, to quell inflation. Last month, the US central bank projected interest rates could rise to a peak of 5.1 percent. But persistent labour market tightness has led economists to expect that borrowing costs would increase to a much higher level and remain there for while, which could undercut economic growth.
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