Highlights of the day: US Fed holds key rates unchanged at 5.25-5.50% for 6th straight meeting
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 "US Federal Reserve Chair Jerome Powell")
US Federal Reserve Chair Jerome Powell (Photo: Bloomberg)
The US Federal Reserve announces its interest rate decision today after a two-day Federal Open Market Committee (FOMC) meeting, and as widely expected, it has left the benchmark interest rates unchanged at 5.25 per cent - 5.50 per cent for the sixth straight meeting, in line with Wall Street estimates.
The US Federal Reserve is set to announce its decision on interest rates today, following a two-day Federal Open Market Committee meeting. It is widely anticipated that the benchmark interest rates will remain steady at 5.25 to 5.50 per cent for the sixth consecutive meeting, in alignment with Wall Street predictions. The rate-setting panel concluded its second policy-setting meeting of the year on March 20 and unanimously decided to maintain the policy rate at this 23-year peak, stating it "does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward two per cent." Since March 2022, the central bank has increased the policy rate by 5.25 percentage points in a rapid response to rising inflation, but has maintained the rate unchanged since July 2023.
Patanjali Foods clarifies license suspensions for 14 products from Divya Pharmacy & Patanjali Ayurved in Uttarakhand, addressing concerns.
Jindal Stainless on Wednesday said it will invest up to Rs 5,400 crore ($646.6 million) for expansion and acquisition plans to improve its melting and downstream capacities.
The IMD has issued a red alert for severe heatwave for Gangetic West Bengal for three days, two days for Odisha, and overall East India is getting an orange alert for the next 3-5 days.
Anuj Thapan, an accused arrested in the Salman Khan house firing case, died by suicide in police custody today, news agency PTI reported today.
Multiple schools in Delhi and the National Capital Region (NCR) have been evacuated after receiving a bomb threat through email. Around 100 schools in Delhi-NCR received a bomb threat in the early hours of Wednesday. These include namely Mother Mary School at Mayur Vihar, Delhi Public School at Dwarka, Sanskriti School in Chanakyapuri, Delhi Public School at Vasant Kunj and Amity School in Saket, among others.
The United States has stated that it expects "accountability" from the Indian government on claims related to the plot to assassinate Khalistani extremist Gurpatwant Singh Pannun on American soil. This comes after India on Tuesday dismissed a report in the Washington Post, alleging that a former Indian intelligence officer was involved in a plot to assassinate Pannun. In a press conference, US State Department Principal Deputy Spokesperson Vedant Patel said, "We continue to expect accountability from the Government of India based on the results of the Indian enquiry committee's work, and we are regularly working with them and enquiring for additional updates."
Police marched on to Columbia University's campus in New York City on Tuesday and began evicting a building that had been fenced by student protesters expressing solidarity witht the plight of Palestinian people. AFP reported that police climbed up to the second story of Hamilton Hall from a laddered truck and disappeared inside. Student newspaper the Columbia Spectator stated that arrests were being made.
The founding family of 127-year-old Godrej Group has come to an agreement to divide the conglomerate, with Adi Godrej and his brother Nadir getting Godrej Industries that has five listed firms, while cousins Jamshyd and Smita keeping unlisted Godrej & Boyce and its affiliates as well as a land bank, including prime property in Mumbai. The Godrej group has been split between two branches of the founding family, with Adi Godrej (82) and his brother Nadir (73) on one side and their cousins Jamshyd Godrej (75) and Smita Godrej Crishna (74) on the other.
11:40 PM
Fed holds rates steady, flags 'lack of further progress' on inflation
The US Federal Reserve held interest rates steady on Wednesday and signaled it is still leaning towards eventual reductions in borrowing costs, but put a red flag on recent disappointing inflation readings and suggested a possible stall in the movement towards more balance in the economy.
11:40 PM
US Fed holds key rates unchanged at 5.25-5.50% for 6th straight meeting
The US Federal Reserve announces its interest rate decision today after a two-day Federal Open Market Committee (FOMC) meeting, and as widely expected, it has left the benchmark interest rates unchanged at 5.25 per cent - 5.50 per cent for the sixth straight meeting, in line with Wall Street estimates.
11:38 PM
Risks to achieving employment, inflation goals have moved toward better balance over the past year: US Fed
US Fed says risks to achieving employment and inflation goals 'have moved toward better balance over the past year,' as opposed to 'are moving into better balance' in march policy statement.
11:36 PM
Google lays off at least 200 employees from its core teams, moves some positions to India, Mexico: CNBC
11:18 PM
Powell-led FOMC to unveil policy decision shortly; rate cuts eyed
The US Federal Reserve is set to announce its decision on interest rates today, following a two-day Federal Open Market Committee meeting. It is widely anticipated that the benchmark interest rates will remain steady at 5.25 to 5.50 per cent for the sixth consecutive meeting, in alignment with Wall Street predictions.
The rate-setting panel concluded its second policy-setting meeting of the year on March 20 and unanimously decided to maintain the policy rate at this 23-year peak, stating it "does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward two per cent."
Since March 2022, the central bank has increased the policy rate by 5.25 percentage points in a rapid response to rising inflation, but has maintained the rate unchanged since July 2023.
11:15 PM
Studies suggest more ice on Moon within exploitable depths: Isro
A study has revealed evidence for enhanced possibility of water ice occurrence in the polar craters of the Moon, according to Isro.
11:15 PM
Biden to address antisemitism in May 7 speech: White House
President Joe Biden will discuss rising levels of antisemitism in a May 7 speech at a museum dedicated to remembering Holocaust victims, the White House said on Wednesday. Press secretary Karine Jean-Pierre told reporters Biden will address "the rising scourge of antisemitism" in his speech. It comes as college campuses face growing protests over U.S. support for Israel in its conflict in Gaza.
9:39 PM
Tesla retreats from next-generation 'gigacasting' manufacturing process
Tesla has backed away from an ambitious plan for innovations in gigacasting, its pioneering manufacturing process, according to two sources familiar with the matter, in another sign that the electric-vehicle maker is retrenching amid falling sales and rising competition.
Tesla has been a leader in gigacasting, a cutting-edge technique that uses huge presses with thousands of tons of clamping pressure to die-cast large sections of the car’s underbody. On a typical vehicle, the underbody can consist of hundreds of individual parts.
8:31 PM
Patanjali Foods addresses license suspension of 14 products in Uttarakhand
Patanjali Foods clarifies license suspensions for 14 products from Divya Pharmacy & Patanjali Ayurved in Uttarakhand, addressing concerns.
8:30 PM
Harvey Weinstein to appear in court despite health setback
Despite battling numerous health issues, Harvey Weinstein, the once-powerful Hollywood producer, is expected to attend his court hearing tomorrow in New York City, where he faces re-arraignment on 2018 rape charges. Weinstein's spokesperson, Juda Engelmayer, confirmed to Deadline that, despite his medical conditions, Weinstein intends to be present in court. Weinstein, who has been dealing with diabetes, cardiac issues, sleep apnea, and near blindness, was recently hospitalised due to health complications.
8:29 PM
Tripura restricts sale of petrol, diesel
The Tripura government has imposed restrictions on sale of petrol and diesel from Wednesday as the fuel stock in the northeastern state has come down due to disruption of goods train movement, an official said. Goods train movement to Tripura was hit by a massive landslide in Assam's Jatinga. Passenger train movement started on April 26 after restoration work. However, train service through Jatinga still remains closed during the night.
8:29 PM
DGCA starts deregistering Go First planes
In a relief to aircraft leasing companies, civil aviation regulator Directorate General of Civil Aviation (DGCA) has deregistered all 54 aircraft of Go First, 364 days after the Wadia-owned company had filed for bankruptcy. The Delhi High Court, on April 26, had directed DGCA to process the deregistration applications of aircraft leased by the airline within five working days.
5:36 PM
Vistara flight makes emergency landing at Bhubaneswar airport, passengers safe
A flight from Bhubaneswar to New Delhi returned minutes after take-off and made an emergency landing after the aircraft was caught in a hailstorm and suffered damage on Wednesday, an official said.
The 169 passengers and crew on board are safe.
The New Delhi-bound Vistara flight landed back at the Biju Patnaik International Airport (BPIA) here barely 10 minutes after taking off, the officials said.
According to preliminary information, the aircraft's windshield developed a crack due to the hailstorm that lashed several parts of Odisha this afternoon.
"A windshield has been damaged, while no harm was caused to the passengers," BPIA Director Prasanna Pradhan said.
5:26 PM
Fire at Mahindra showroom in Jabalpur
Fire breaks out in the workshop of Mahindra showroom located near Bhedaghat Bypass in Jabalpur, Madhya Pradesh. More details awaited.
5:21 PM
Jindal Stainless announces expansion plans, to invest Rs 5,400 cr
Jindal Stainless on Wednesday said it will invest up to Rs 5,400 crore ($646.6 million) for expansion and acquisition plans to improve its melting and downstream capacities.
Topics : Narendra Modi Rahul Gandhi BJP Congress US Israel-Palestine Gaza Gurpatwant Singh Pannun Ukraine
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First Published: May 01 2024 | 8:41 AM IST
