Materials Down on China, Rate Concerns -- Materials Roundup

Producers of metals and other raw materials tumbled amid fears about Chinese demand and the interest-rate outlook.

New York Federal Reserve President John Williams said the central bank would likely need to continue its inflation fight into 2024. Mr. Williams also hinted the Fed would lift rates by a half percentage point at its meeting next month.

Similarly, St. Louis Fed President James Bullard warned rates would need to stay elevated during an interview with MarketWatch.

Economists warn that inflation will continue to hamper the global economy even after it has peaked.

"The likely significant general decline in headline inflation rates in 2023 will not, in our view, herald a renewed disinflationary trend," said analysts at brokerage BNP Paribas.

Write to Rob Curran at [e-mail]

(END) Dow Jones Newswires

11-28-22 1700ET