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Business News/ Economy / US Fed Meeting Highlights: At 5.25-5.50%, Powell-led FOMC keeps key interest rates unchanged at 22-year high mark
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US Fed Meeting Highlights: At 5.25-5.50%, Powell-led FOMC keeps key interest rates unchanged at 22-year high mark

US FED Meeting Highlights: Jerome Powell-led rate-setting panel kept interest rates steady at a 22-year high as the US economy remains resilient while inflation still remains above the Fed's 2 per cent target level.

US Federal Reserve rate decision todayPremium
US Federal Reserve rate decision today

US FED Meeting Highlights: The US Federal Reserve began its second day of interest rate deliberations on Wednesday, November 1 and decided to keep the key overnight interest rates unchanged at 5.25-5.50 per cent. Jerome Powell-led Federal Open Market Committee (FOMC) held interest rates steady at a 22-year high for the second time in a row, even as the US economy remains resilient despite high interest rates while inflation still remains above the Fed's 2 per cent target level. 

The Fed's statement noted that with job gains still strong and inflation still elevated, the central bank continues to consider “the extent of additional policy firming over time." The gross domestic product (GDP) of the US expanded at an annualized rate of 4.9 per cent in the third quarter, according to the US Bureau of Economic Analysis (BEA) first estimate.

Stay tuned to our US Fed Meeting Live blog for the latest updates on FOMC meeting outcome.

02 Nov 2023, 01:29:47 AM IST

US FOMC Meeting Live: This live blog session has ended

Stay connected to Live Mint for all business and market updates.

02 Nov 2023, 01:27:28 AM IST

US FOMC Meeting Live: FOMC to meet next on December 12-13

US Fed Chair Powell-led FOMC will meet now on December 12-13 to deliberate for the next set of policy decisions.

02 Nov 2023, 01:23:32 AM IST

US FOMC Meeting Live: Canadian dollar near one-year lowe after Fed policy decision

The Canadian dollar edged higher against the greenback on Wednesday, but was holding near an earlier one-year low as domestic data showed the factory sector remaining in contraction and the Federal Reserve left the door open to more rate hikes.

The loonie was trading 0.1 per cent higher at 1.3865 to the greenback, or 71.12 US cents, after touching its weakest intraday level since October 2022 at 1.3899, according to news agency Reuters.

The US dollar held on to earlier gains against a basket of major currencies after the Fed held interest rates steady but didn't rule out another rate increase.

02 Nov 2023, 01:17:10 AM IST

US FOMC Meeting Live: US Fed leaves door open for more rate hikes

The Federal Reserve held interest rates steady on Wednesday but left the door open to a further increase in borrowing costs in a policy statement that acknowledged the US economy's surprising strength but also nodded to the tighter financial conditions faced by businesses and households.

Tighter financial conditions could affect Fed actions if they are persistent and it "remains to be seen" if that will be the case, Powell said at a press conference following the release of the policy statement.

02 Nov 2023, 01:09:59 AM IST

US FOMC Meeting Live: Oil falls to settle at 3-week low as Fed policy stance lifts US dollar

Oil prices eased about 1 per cent to a three-week low on a rising US dollar and after the US Federal Reserve kept interest rates steady as expected but noted it would keep the door open to possible future rate hikes due to a strong US economy.

Interest rate hikes can slow economic growth and dampen oil demand. A strong dollar makes it more expensive to buy fuel using other currencies, pressuring prices. Brent futures fell 39 cents, or 0.5 per cent, to settle at $84.63 a barrel. US West Texas Intermediate (WTI) crude fell 58 cents, or 0.7 per cent, to $80.44.

That was the lowest settlement for Brent since October 6 and WTI since August 28. Both contracts settled below their 100-day moving averages, a key level of technical support since July, according to news agency Reuters.

02 Nov 2023, 01:03:04 AM IST

US FOMC Meeting Live: 10-year Treasury yield hits 2-week low after Fed policy

The benchmark Treasury yields fell to two-week lows on Wednesday after the Federal Reserve left interest rates steady but left the door open to a further increase in borrowing costs.

Earlier, Treasury yields slipped on Treasury Department plans to "gradually" boost the size of its debt auctions to meet financing needs.

The Treasury Department said the size of most auctions from November to January 2024 will increase and that it will need one additional quarter of increases to meet its funding plans.

02 Nov 2023, 12:59:54 AM IST

US FOMC Meeting Live: Gold dips as Fed's Powell stays hawkish after holding rates

Gold prices fell on Wednesday after the US central bank announced its widely expected decision to leave interest rates unchanged and Chair Jerome Powell said the question of rate cuts is not on their radar right now. Spot gold was down 0.3 per cent to $1,976.39 per ounce. US gold futures settled down 0.3 per cent at $1,987.50, according to Reuters.

02 Nov 2023, 12:51:42 AM IST

US FOMC Meeting Live: US dollar firms after Fed leaves rate-hike option open

The US dollar rose on Wednesday after the Federal Reserve left interest rates unchanged but did not rule out another hike as it acknowledged the economy's unexpected resilience despite the central bank's aggressive tightening launched more than a year ago. The dollar index was last up 0.3 per cent at 106.97. 

It has traded sideways since hitting an almost one-year high of 107.34 in early October on the back of a sharp rise US bond yields driven by strong economic growth. Against the yen, the dollar dropped 0.4 per cent to 151.09. The currency pair typically tracks movements in US two-year Treasury yields, which fell 6.9 basis points to 5 per cent, according to news agency Reuters.

02 Nov 2023, 12:47:16 AM IST

US FOMC Meeting Live: Powell says central bank staff did not put recession back into their forecast

Jerome Powell on Wednesday said the central bank's staff did not foresee a recession in the forecast that they provided policymakers ahead of their decision to leave interest rates unchanged.

Fed staff had previously forecast a mild recession but had removed that forecast in presentations to policymakers ahead of the previous meeting in September.

02 Nov 2023, 12:42:49 AM IST

US FOMC Meeting Live: US Fed 'attentive' to increase in long-term yields, says Powell

The US central bank is monitoring a rise in longer-term yields, Federal Reserve Chair Jerome Powell said Wednesday, after the the Federal Reserve announced its latest decision to hold interest rates steady.

"We're attentive to the increase in longer-term yields, which have contributed to a tightening of broader financial conditions since the summer," he told a press conference. Treasury yields determine issues like mortgage rates or corporate and municipal bond yields, analysts have noted.

02 Nov 2023, 12:32:31 AM IST

US FOMC Meeting Live: US Fed not discussing rate cuts at all, says Powell

The US Federal Reserve is not discussing interest rate cuts, the bank's chair said Wednesday, shortly after policymakers voted to hold rates at a 22-year high to tackle inflation. "The fact is the committee is not thinking about rate cuts, right now at all. We're not talking about rate cuts," Jerome Powell told reporters in a post-policy press conference.

02 Nov 2023, 12:23:39 AM IST

US FOMC Meeting Live: Oil slips to three-week low on worries about future interest rate hikes

Oil prices eased about 1 per cent to a three-week low after the US Federal Reserve kept interest rates steady as expected but noted that it needed to keep the door open to possible future rate hikes due to the strong US economy.

Interest rate hikes to fight inflation can slow economic growth and dampen oil demand. Brent futures fell 39 cents, or 0.5 per cent, to $84.63 a barrel, while US West Texas Intermediate (WTI) crude fell 66 cents, or 0.8 per cent, to $80.36, according to Reuters.

02 Nov 2023, 12:14:28 AM IST

US FOMC Meeting Live: Wall Street rises after Federal Reserve holds steady on interest rates

US stocks are rising Wednesday after the Federal Reserve opted against pressing the brakes even harder on Wall Street and the economy for now. The S&P 500 was up 0.8 per cent in afternoon trading, coming off its third straight losing month largely because of higher yields in the bond market. The Dow Jones Industrial Average was up 156 points, or 0.5 per cent, and the Nasdaq composite was 1.1 per cent higher. Indexes added to their gains after the Fed announced its decision to hold interest rates steady, which was what investors expected. 

01 Nov 2023, 11:58:21 PM IST

US FOMC Meeting Live: Fed policy decision in line with Street estimates

The decision was widely expected, given the Fed's stated goal of slowing inflation to its long-term target of two percent.

It marks the first time officials have held rates steady at two consecutive meetings since they began tightening monetary policy last year.

The US central bank said any future decisions on policy firming would "take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments."

01 Nov 2023, 11:46:21 PM IST

US FOMC Meeting Live: US Fed on policy stance

The US banking system is sound and resilient. Tighter financial and credit conditions for households and businesses are likely to weigh on economic activity, hiring, and inflation. The extent of these effects remains uncertain. The Committee remains highly attentive to inflation risks.

01 Nov 2023, 11:38:18 PM IST

US FOMC Meeting Live: Fed Reserve keeps key rates unchanged at 5.25-5.50%

The US Federal Reserve announced its interest rate decision today after a two-day Federal Open Market Committee (FOMC) meeting and left the benchmark interest rates unchanged at 5.25 per cent - 5.50 per cent. 

01 Nov 2023, 11:15:31 PM IST

US FOMC Meeting Live: Countdown to Fed rate decision

US Fed Reserve to deliver policy decision shortly. In the previous meeting, Powell offered a positive assessment of US consumer health and the labor market, an outlook that keeps alive the chance of averting recession. However, this also likely means that interest rates will remain higher for longer.

01 Nov 2023, 11:01:41 PM IST

US FOMC Meeting Live: Gold little changed as Fed decision looms; Powell speech in focus

Gold prices were little changed on Wednesday as investors stayed on the sidelines ahead of the U.S. central bank's policy decision, with major focus on Chair Jerome Powell's speech for cues on future rate stance. Spot gold was down 0.2 per cent at $1,977.97 per ounce. US gold futures eased 0.4 per cent at $1,986.90, according to news agency Reuters.

01 Nov 2023, 10:46:35 PM IST

US FOMC Meeting Live: European shares rise on retail, healthcare boost; Fed decision eyed

Europe's benchmark index rose on Wednesday, led by healthcare and retail stocks, with investors bracing for a policy decision by the Federal Reserve later in the day. The pan-European STOXX 600 closed 0.7 per cent higher and logged its third straight day of gains. Trade volumes were lighter due to an All Saints' Day observance, according to news agency Reuters.

The index registered its worst monthly performance in over a year in October, hurt by concerns about economic growth and interest rates staying higher for longer. Capping gains in equities, however, was a rise in euro zone bond yields ahead of the Fed's policy outcome, where it is widely expected to hold US interest rates steady.

01 Nov 2023, 10:30:57 PM IST

US FOMC Meeting Live: US inflation debt sales rise to keep pace with Treasury market

The US Treasury plans to keep increasing issuance of inflation-protected securities at a pace that maintains the sector’s overall share of total US marketable debt.

The department will keep the November 10-year Tips reopening auction size at $15 billion, and boost the January 10-year Tips new issue auction size by $1 billion to $18 billion, according to the latest quarterly debt refunding announcement, which covers the period from November 2023 to January 2024. It also said it will lift its December 5-year Tips reopening auction size by $1 billion.

01 Nov 2023, 10:20:30 PM IST

US FOMC Meeting Live: Fed stance likely to set tone for US equities

US FOMC Meeting Live: The stance that will be adopted by the US Federal Reserve on interest rates is expected to set the tone for US.equities, which faced a sharp fall in October due to a jump in Treasury yields. The Israel-Hamas conflict and the resultant tensions in Middle East, and the mixed earnings report had also contributed to the decline last month.

01 Nov 2023, 10:00:14 PM IST

US FOMC Meeting Live: Wall Street gains in run-up to Fed decision

Wall Street climbed with investors optimistic about the Federal Reserve keeping interest rates unchanged later in the day, while a pullback in bond yields after the U.S. Treasury Department's refunding plans boosted megacap stocks, Reuters reported. At 11:44 a.m. ET, the S&P 500 was up 23.07 points, or 0.55%, at 4,216.87, the Nasdaq Composite was up 84.91 points, or 0.66%, at 12,936.15 and the Dow Jones Industrial Average was up 121.27 points, or 0.37%, at 33,174.14.

01 Nov 2023, 09:45:40 PM IST

US FOMC Meeting Live: US job openings stay elevated

US job openings increased in September, pointing to persistent labor market tightness that is supporting the economy and likely to see the Federal Reserve keeping interest rates higher for a long time to cool demand.

The Job Openings and Labor Turnover Survey, or JOLTS report from the Labor Department on Wednesday also showed layoffs dropping to a nine-month low. There were 1.50 job openings for every unemployed person in September, slightly up from 1.49 in August and way above the pre-pandemic ratio of 1.2, according to Reuters.

01 Nov 2023, 09:30:32 PM IST

US FOMC Meeting Live: Oil up 2% on Israel-Hamas war and investors await Fed statement

Oil prices climbed about 2 per cent on Wednesday on worries the conflict in the Middle East could disrupt oil supplies and ahead of an expected U.S. Federal Reserve announcement that could provide clues about future interest rates.

Brent futures for January delivery rose $1.63, or 1.9 per cent to $86.65 a barrel. But the January contract remained below where the December contract settled on Tuesday. US West Texas Intermediate crude rose $1.64, or 2.0 per cent, to $82.66 per barrel, according to news agency Reuters.

01 Nov 2023, 09:15:43 PM IST

US FOMC Meeting Live: US yields slip after Treasury boosts auction sizes

Treasury yields slid on Wednesday, with the 10-year note falling to two-week lows, after the Treasury Department announced plans to "gradually" increase the size of its debt auctions in a move that didn't roil markets as a previous funding announcement had. 

Yields also fell on a report showing US private payrolls increased less than expected in October as wage growth moderated, a welcome sign for the Federal Reserve, which is trying to tame inflation that's still almost twice as high as its 2 per cent target.  

The yield on the benchmark 10-year note fell 7.8 basis points to 4.797 per cent, sliding beneath 4.8 per cent for the first time since October 17, when hot retail sales data for September led Treasuries to sell off, according to a report by Reuters.

01 Nov 2023, 09:00:48 PM IST

US FOMC Meeting Live: Private payrolls register uptrend

With the US central bank widely expected to hold rates steady, investors will closely monitor Fed Chair Jerome Powell's speech to gauge where interest rates are headed and how long they will stay higher.

Data showed a smaller-than-expected increase in US private payrolls, which took some steam out of a still-tight labor market.

Private payrolls rose by 113,000 jobs and data for September was unrevised to show an 89,000 addition, as previously reported. Economists polled by Reuters had forecast private payrolls rising 150,000 last month.

01 Nov 2023, 08:30:51 PM IST

US FOMC Meeting Live: Wall Street rises ahead of Fed policy decision

Wall Street's main stock indexes rose on Wednesday as investors looked forward to the Federal Reserve's monetary policy decision, while megacap stocks gained as bond yields eased after the US Treasury Department's refunding plans. The yield on the benchmark 10-year note slipped after the refunding news and was last at 4.812 per cent.

Megacap growth stocks including Tesla, Microsoft, Nvidia and Amazon.com gained between 0.8 per cent and 1.8 per cent. Five of the 11 major S&P 500 sectors were trading higher, with information technology and communication services leading gains.

01 Nov 2023, 08:15:21 PM IST

US FOMC Meeting Live: ‘US economy at turning point’, said Fed Chair Powell

In his remarks last month, Fed Chair Powell echoed other Fed officials in suggesting that the US economy is at a turning point: If growth remains as healthy as it has been since this summer, additional rate hikes could be needed. But any sign of weaker growth or hiring could help slow inflation and allow the Fed to keep rates unchanged.

Powell also added that the Fed is "proceeding carefully" in evaluating the need for any further rate increases, likely leaving intact the current expectations by Wall Street traders and economists that the central bank will hit a pause of rates.

01 Nov 2023, 08:01:10 PM IST

US Fed Meeting Live: US Fed to take cognizance of Israel-Hamas war

The Russia-Ukraine war and the Israel-Hamas war are the important geopolitical events that the Fed will keep in mind in its policy meeting. The Israel-Hamas war enters day 26 and the efforts to end it have not yielded the desired fruits so far. Experts say the geopolitical risks are grave and if the conflict spreads to other countries in the region, it will deal a serious blow to the global economy.

01 Nov 2023, 07:46:21 PM IST

US Fed Meeting Live: How will US markets react?

Market reaction to the FOMC might be muted: The decision is well anticipated and investors have been focused on the US fiscal deficit, so the Treasury refinancing announcement might overshadow the Fed Wednesday, according to Bloomberg. Surging US Treasury yields have contributed to a tightening of financial conditions, which a number of Fed officials said could make it less necessary to raise rates this meeting. 

01 Nov 2023, 07:30:36 PM IST

US Fed Meeting Live: ‘We expect a market rally for the end of 2023’: deVere CEO

Global financial markets are likely to rally in November and December, predicts the CEO and founder of one of the world’s largest independent financial advisory, asset management and fintech organisations.

The bullish prediction from deVere Group’s Nigel Green comes despite stock market corrections and weak investor sentiment.

He says: “History shows that November is the second-best month of the year for markets, behind April.

“This November could be even more positive as some markets are currently in correction territory – falling by more than 10% - and so a swing to the upside will be more pronounced."

01 Nov 2023, 07:15:17 PM IST

US Fed Meeting Live: US Fed starts second day of rate talks

The US Federal Reserve began its second day of interest rate deliberations Wednesday, after which it is widely expected to announce it will keep interest rates at a 22-year high in a bid to tackle inflation without harming the buoyant US economy.

The meeting began at 9:00 am (1300 GMT), the US central bank said in a statement. When the Fed hikes interest rates it raises the cost of borrowing from the bank, which works to dampen economic activity and weakens the labor market.

01 Nov 2023, 07:00:42 PM IST

US Fed Meeting Live: Fed expected to hold rates steady – what investors should do now

Nigel Green, CEO and Founder of deVere Group suggests  important strategies that investors should consider.

“First, maintain a well-diversified portfolio that spreads risk across various asset classes. Diversification can help mitigate the impact of rising interest rates and market volatility.

“Second, evaluate your risk tolerance and investment goals. Ensure that your portfolio aligns with your financial objectives, and consider adjusting your asset allocation accordingly.

“Third, given the potential for higher market volatility, active management can be valuable. Reassess and rebalance your portfolio as needed to capitalise on opportunities and manage risks effectively.

01 Nov 2023, 06:45:28 PM IST

US Fed Meeting Live: What analysts say ahead of Fed policy decision

‘The prevailing market sentiment is that the Federal Reserve will maintain its current high interest rate base point in the short term. However, there are apprehensions regarding the potential delayed ramifications of the ongoing series of interest rate hikes on the broader economy,’' said Jayden Ong, Senior Market Analyst, APAC at Vantage

‘’Hence, the anticipation is that the Federal Reserve will maintain vigilant scrutiny of economic data as it unfolds before arriving at a definitive decision. Presently, market participants are estimating a probability exceeding 60 per cent that monetary policymakers will enact a further 25-basis-point rate hike in January, indirectly bolstering the underpinning of the US dollar index,'' added the analyst.

01 Nov 2023, 06:30:49 PM IST

US Fed Meeting Live: Where will US inflation go?

Fed officials project the central bank's main measure of inflation at 3.3 per cent at year end, compared to June's forecast of 3.2 per cent, falling to 2.5 per cent by the end of next year, compared with 2.5 per cent seen in June. FOMC estimates US inflation reaching 2.2 per cent by the end of 2025, before finally attaining the 2 per cent goal in 2026.

“The process of getting inflation sustainably down to 2 per cent has a long way to go," Chair Jerome Powell said at a post-policy press conference. “We’ve seen progress, and we welcome that, but we need to see more progress" before concluding that it's appropriate to end the rate hikes.

01 Nov 2023, 06:15:37 PM IST

US Fed Meeting Live: FOMC doubled US GDP growth projection to 2.1% from 1% for 2023

In the previous policy decision, Fed policymakers had raised the US GDP projection to 2.1 per cent this year, a notable upgrade from the 1 per cent growth projected in June, and expanding by 1.5 per cent next year.

FOMC members have left the median projection for interest rates at the end of this year between 5.50 per cent and 5.75 percent, keeping the possibility of another quarter percentage point hike by December, to bring inflation down to the 2 per cent target. Read full story here

01 Nov 2023, 06:01:00 PM IST

US Fed Meeting Live: US inflation still high, more rate hikes to achieve 2% target, said Fed Chair Powell

Federal Reserve Chair Jerome Powell said on October 19 that inflation in the US remains too high and bringing it down to the Fed's 2 per cent target level will likely require a slower-growing economy and job market. Powell's remarks appeared to push back against market expectations that the rate hikes by the US central bank had reached an end.

"We are attentive to recent data showing the resilience of economic growth and demand for labor. Additional evidence of persistently above-trend growth, or that tightness in the labor market is no longer easing, could put further progress on inflation at risk and could warrant further tightening of monetary policy," Powell said in remarks to the Economic Club of New York. Read full story here

01 Nov 2023, 05:46:24 PM IST

US Fed Meeting Live: Sustenance of high rates is an issue, say analysts

Ahead of the US Fed decision, Vinod Nair, Head of Research at Geojit Financial Services, said, "The domestic indices were responding to the global signals ahead of the Fed's monetary policy decision later in the day, while the global market was also assimilating to the mixed bag of US corporate earnings reports. 

‘’Markets anticipate a status quo in the Fed policy however sustenance of the high rate for a prolonged period is the issue. Ease in demand, as reflected by October PMI data, led to more cautiousness in India compared to Asian & European peers. However, good H1 gross tax collection and in-line expectation monthly volume demand by the auto sector, resulted in a minimal negative effect,'' added Nair.

01 Nov 2023, 05:30:36 PM IST

US Fed Meeting Live: Bond yields in US

Despite the strong recent string of economic data, the Fed's rate decision has been made easier by a recent surge in yields on longer-term government bonds. The Fed's rate-setting committee "appears to have coalesced around the view that the recent tightening in financial conditions led by higher long-term interest rates has made another hike unnecessary," economists at Citi wrote in a recent note to clients.

01 Nov 2023, 05:15:30 PM IST

US Fed Meeting Live: Labour Markets

The US labour costs increased significantly in the September quarter amid strong wage growth. According to a Reuters report, quoting the Labor Department's Bureau of Labor Statistics data, the Employment Cost Index (ECI), the broadest measure of labour costs, rose 1.1 per cent last quarter after increasing 1 per cent in the April-June period.

01 Nov 2023, 05:01:06 PM IST

US Fed Meeting Live: 6 key things that will be in Fed's mind before making a rate decision today

Key questions revolve around whether the Fed will opt for interest rate reductions in the near term or maintain a more hawkish stance by signalling further rate hikes. The US inflation cooled off significantly in September but it remains well above the Fed's 2 per cent inflation target. The US Fed's current monetary tightening cycle started in March 2022. At present, the benchmark interest rate, or the federal funds rate, is at a 22-year high. Here are the six key things that may be on the Fed's mind before making a rate decision today

01 Nov 2023, 04:45:27 PM IST

US Fed Meeting Live: US GDP growth beats Street estimates, expands an annual rate of 4.9% in Q3

The gross domestic product (GDP) of the US expanded at an annualized rate of 4.9 per cent in the third quarter, the US Bureau of Economic Analysis' (BEA) first estimate showed on Thursday, October 6. The US economy grew at the fastest pace in nearly two years, buoyed by a strong consumer in spite of higher interest rates, ongoing inflation pressures, and a variety of other domestic and global headwinds.

The US GDP reading followed the 2.1 per cent growth recorded in the second quarter and surpassed Wall Street expectations of 4.2 per cent. Economists surveyed by Dow Jones expected the GDP to accelerate at 4.7 per cent, which also is adjusted for inflation. Read full story here

01 Nov 2023, 04:30:49 PM IST

US Fed Meeting Live: Previous Decision

In its previous policy meeting on September 20, the US central bank left the benchmark interest rates unchanged, with a range of 5.25 per cent to 5.50 per cent. A majority of experts believe the Fed will maintain a pause on interest rates for the second consecutive time after the conclusion of the Federal Open Market Committee's (FOMC) two-day meeting on Wednesday.

01 Nov 2023, 04:15:30 PM IST

US Fed Meeting Live: Indian markets fall for second straight session

Domestic equity benchmarks the Nifty 50 and the Sensex extended their losses into the second consecutive session on Wednesday amid mixed global cues ahead of the US Fed policy outcome. Nifty 50 closed at 18,989.15, down 90 points, or 0.47 per cent. The 30-share pack Sensex ended 284 points, or 0.44 per cent, lower at 63,591.33. Read full story here

01 Nov 2023, 03:57:58 PM IST

US Fed Meeting Live: How will the decision impact Indian stock market?

Stock market experts anticipate a muted response to the US Federal Reserve's decision. Dr V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said since no surprise is expected from the Fed meeting outcome, the market is unlikely to be impacted. 

But the high bond yields will weigh on markets and foreign institutional investors (FIIs) can be expected to continue selling. The consequent weakness in sectors like financials where the FIIs hold a major segment of their holding will provide buying opportunities for long-term investors, Vijayakumar said. Read full story here

01 Nov 2023, 02:52:08 PM IST

US Fed meeting Live: All eyes on chair Jerome Powell 

In its previous policy meeting on September 20, the Fed chose to leave the benchmark interest rates unchanged, with a range of 5.25 percent to 5.50 percent.

Market participants and economists will be closely monitoring the Federal Reserve's policy outcome for insights into the central bank's assessment of inflation, the state of the US economy, and its expected interest rate path. Key questions revolve around whether the Fed will opt for interest rate reductions in the near term or maintain a more hawkish stance by signalling further rate hikes.

01 Nov 2023, 02:33:13 PM IST

US Fed meeting: Central bank expected to keep key rate unchanged

It’s widely expected that the Fed won’t raise rates this time around but will do so in December. That may give a boost to bond yields.

"As of now, we still think July was the last hike, but we do reckon that the resilience in both Inflation and growth is reinforcing the higher-for-longer stance even as financial and geopolitical shocks loom over the outlook," said Madhavi Arora, lead economist at Emkay Global Financial Services.

Read the full story here

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