The US Federal Reserve kicked off its 2nd day of interest rate deliberations on November 1 and the apex bank decided to maintain the key overnight interest rates unchanged at 5.25%-5.50%. Jerome Powell-led FOMC kept interest rates unchanged. With this, the current levels exhibit that rates are at 22-year high, even as the US economy
Dow Jones Industrial Average (DJIA) saw its tenth consecutive positive session on Friday (21 July 2023). Blue chip index only gained 0.01% by end of trading day on Friday. Therefore, market watchers see this closing as “suspenseful”. Several factors impact the performance of Dow Jones index, including but not limited to, earnings results, global macro
Given the release of UCLA Anderson Forecast’s June 2023 report, experts have got a sigh of relief: The US economy is YET not in a recession. However, there is some caution which needs to be observed carefully. Considering that core inflation is coming down slowly, there is a possibility that Fed might continue to tighten
Despite advancing toward a dream economic scenario, some of the country’s rich people might not be too thrilled due to recession. In spite of the Federal Reserve’s aggressive interest-rate hikes, inflation in the US is cooling toward the Federal Reserve’s 2% target. According to the Philadelphia Fed, forecasters estimate the US Gross Domestic Product rose
Inflation is slowly falling, but economic growth continues to be at historical lows. Apart from this, financial risks have increased. That being said, the global economy’s systematic recovery from both pandemic and Russia-Ukraine war remains on track. Much of this support comes from China as the country’s economy continues to rebound strongly. Supply chain disruptions
A recent survey by Software Industry Association of India NASSCOM and IHS Market identified that Indian tech firms had supported and created 1.6 million jobs in total, generating $198 billion for the US economy. The industry spent $1.1 billion to expand STEM education in the US. Indian tech firms contributed $3 million to American elementary,
The 2020 recession generated the highest inflation since the 1970s. However, the 2020 recession was the shortest. Furthermore, the recovery was the fastest since the 19080s. As the economy reopens amid disruptions caused by the pandemic, the next phase of the economy could slow down unexpectedly. What are the three reasons that could slow down
Federal Reserve Chair Jerome Powell testifies in a confirmation hearing before Congress. Powell says, “we will raise interest rates if we have to.” The confirmation hearing is in light of Powell running the Fed for a second four-year term. Fed Powell suggests raising interest rates to tackle high inflation Former President Trump nominated fed Powell
