US President Donald Trump has confirmed his leading choices to replace the current US Federal Reserve Chair Jerome Powell, naming three of his close aides as top picks for the position, The Hill reported.
The new chancery premises of the Consulate General of India in Seattle were officially inaugurated Tuesday (local time) by Ambassador of India to the USA Vinay Kwatra, in the presence of Governor of Washington State Bob Ferguson, US Senator Maria Cantwell and Mayor of Seattle Bruce Harrell,
In one of his most consequential speeches, Powell suggested the labor market could benefit from lower rates, which the Federal reserve has kept unchanged for eight straight months.
The Reserve Bank of India's Monetary Policy Committee (MPC) could consider reducing policy rates further if upcoming GDP data comes in lower than expectations and the US Federal Reserve begins aggressive rate cuts due to a weaker labour market, according to a report by HSBC Mutual Fund.
The US Federal Reserve will have to time its interest rate cuts carefully as new tariffs could push inflation higher next year, making policy choices over the next three to six months particularly crucial, according to a report by Union Bank of India.
According to a post on Truth Social, the US President stated that Miran would be serving until January 31, 2026, following his appointment if approved by the US Senate and in the meantime, his administration will keep searching for a permanent replacement.
The likelihood of a 25 basis points rate cut by the US Federal Reserve in September has increased, but the final decision will depend on upcoming economic data, according to a recent report by ICICI Bank.
The possibility of a US Federal Reserve rate cut in September remains open, but it will largely depend on how the labor market and inflation evolve, noted a recent report by Union Bank of India research.
The Federal Reserve's annual bank stress test showed that large American banks are well-positioned to weather a severe recession, while staying above minimum capital requirements and continuing to lend to households and businesses.
India's equity benchmarks remained muted on Thursday and ended with a marginal loss, possibly due to the ongoing geopolitical conflict in the Middle East and cautious signals from the US Federal Reserve, dampening investors' sentiment.