Equity markets soared, with Nasdaq surging more than 6%. But Cleveland Fed President Loretta Mester said that main risk to inflation is the central bank not hiking rates enough.
On Wednesday, US Federal Reserve hiked its Federal Funds Rate by 75 basis points. It spurred a global sell-off and led to the rupee crossing the psychological 80-to-a-dollar mark.
Aggressive rate hikes will dampen demand & cause economic slowdown. In this uncertain scenario, India should avoid knee jerk policy responses & strengthen its macro-fundamentals.
Sources said that RBI is intervening in all foreign-exchange markets including the offshore markets and will continue to do so to protect the rupee which slid to a record low Monday.
V. Anantha Nageswaran says he is surprised by Fed's hawkishness in hiking rates. With US inflation hitting 4-decade high in February, Fed raised rates in March and plans more hikes.
It’s been some time since people thought about the concept of money and its purpose. The broad idea is that money has value, but that value is not arbitrary.
Through film, textile, scent, sound, and gesture, spectators are invited to descend into an immersive environment where inherited knowledge seeps through material and form.
November exports to the US saw 10% growth from the previous month. Overall, in the first 8 months this fiscal, the merchandise exports to the US touched has touched $59bn.
Of the total package, $649 million will be utilised for additional hardware, software, and support services, and the remaining for Major Defence Equipment (MDE).
Don’t blame misfortune. This is colossal incompetence and insensitivity. So bad, heads would have rolled even in the old PSU-era Indian Airlines and Air India.
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