Jerome Powell

South Korean lawmakers urged President Yoon Suk Yeol to resign or face impeachment after he briefly declared and then reversed martial law, sparking a political crisis

A rally in the dollar and the rise in US bond yields following Donald Trump's victory in the US election has weighed on Asian currencies over the last two weeks, including the rupee

A key pillar of support for the dollar has been the expectation that higher inflation under Trump will mean the Federal Reserve has less room to cut interest rates

US central bankers began lowering borrowing costs in September with an aggressive half-percentage-point cut, and then lowered the policy rate again by a quarter point last week

Powell's term as chair expires in May 2026, and Trump will have an opportunity to install a new Fed chief then

The comments, just two days after Trump's re-election, portend the power struggle that may lie ahead between the central bank and a president who insists he should have a say on interest-rate policy

The price of 22-carat gold also fell Rs 10, with ten grams of the yellow metal selling at Rs 71,990

Federal Reserve Chair Jerome Powell signalled on Monday that more interest rate cuts are in the pipeline but suggested they would occur at a measured pace intended to support a still-healthy economy. His comments, at a conference of the National Association for Business Economics in Nashville, Tennessee, disappointed the hopes of many investors that the Fed would implement another steep half-point reduction in its key rate before the end of the year. The Fed cut its rate by a larger-than-usual half point earlier this month as it has moved past its inflation fight and pivoted toward supporting the job market. The broad S&P 500 stock index initially fell 0.6 per cent after his remarks, but recovered afterwards to close about 0.4 per cent higher. "We're looking at it as a process that will play out over some time," Powell said during a question and answer session, referring to the Fed's interest rate reductions, "not something that we need to go fast on. It'll depend on the data, the

Powell is scheduled to address the association at 12:55 p.m

In each the last three sessions, the rupee has been unsuccessful in climbing past 83.50, a level which market participants say is important for the currency to take out to sustain its upward momentum

The US Federal Open Market Committee on Wednesday reduced the lending rate to 4.75-5.00 per cent from 5.25-5.50 per cent, a larger than expected cut

The surge in IT stocks was fuelled by the US Federal Reserve's decision to cut interest rates by 50 basis points, lowering the target range to 4.75 per cent to 5 per cent.

Policymakers see the Fed's benchmark rate falling by another half of a percentage point by the end of this year, and another full percentage point in 2025

The decision drew a dissent from Fed Governor Michelle Bowman, who wanted just a quarter-point cut

The price of 22-carat gold fell Rs 10, with ten grams of the yellow metal selling at Rs 68,490

In emerging markets, the Fed's half percentage point cut offers reduced pressure on exchange rates

A half-percentage-point cut - now given more than a 60% probability in rate futures markets - would signal a commitment to sustaining the current economic expansion and the job growth

The probability of a 50-basis-point cut has more than quadrupled to 59% from just 14% last week, with a total of 119 bps in cuts now expected in 2024

The price of 22-carat gold fell Rs 10, with ten grams of the yellow metal selling at Rs 66,690

Stocks to watch on August 26: GQG Partners Emerging Markets Equity Fund purchased a 0.69 per cent stake in Ambuja Cement via a bulk deal