Fed’s inflation stand was expected, could mean 75 bps rate hike next: Experts
The US Federal Reserve Chairman Jerome Powell on August 26 said that halting inflation is now primary, in stark contrast to his speech last year, where he called inflation transitory and worried about monetary tightening hurting economic activity. Powell said that the monetary authority will continue its interest rate hike even if it means “some pain” to the economy. Market experts in India said that the US economic data will need to be watched closely from now on. Aishvarya Dadheech, Fund Manager, Ambit Asset Management, sees a rate hike of 75 bps in the September meet. Read here.