Here’s how Fed’s move to keep rates unchanged will impact India

Here’s how Fed’s move to keep rates unchanged will impact India

FPJ Web DeskUpdated: Wednesday, May 29, 2019, 08:26 PM IST
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NEW YORK, NY - MAY 1: Traders and financial professionals work on the floor of the New York Stock Exchange (NYSE) ahead of the closing bell, May 1, 2019 in New York City. Following the Federal Reserve's announcement that interest rates will remain unchanged, the Dow Jones Industrial was own 162 points at the close of the trading session on Wednesday. Drew Angerer/Getty Images/AFP == FOR NEWSPAPERS, INTERNET, TELCOS & TELEVISION USE ONLY == |

Mumbai: The Federal Reserve (Fed) left its key benchmark rate unchanged on Thursday, despite renewed calls by President Donald Trump to cut interest rates. It was decided to keep the Federal Funds rate between 2.25% and 2.5%.

The Fed unanimously agreed to leave rates alone, sticking with the wait-and-watch approach outlined earlier this year amid uncertainty about where the US economy is headed. The Chairman remarked that the Fed did not see a strong case for rates moving in either direction and was comfortable with the current policy stance.

Note: Care Rating’s Economics division released a report ‘Federal Reserve Action and Impact on India’ on 2nd May. The above article is based on the write up from the said report.

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