Page 35 - Us Fed News Today

The U.S. Federal Reserve is reducing its headcount by about 300 people this year, mainly in the information technology department and positions connected to payment processing systems. These reductions are a combination of attrition and layoffs and represent the first budgeted decline in headcount since 2010. The staff cuts come at a sensitive time for the Fed, as it has incurred significant losses on its operations in recent months.

A daily rundown of the economic reports and corporate earnings that will be grabbing the market’s attention in the week ahead

For the Indian market, the risk-reward in terms of investment style is tilted in favour of large caps

The US Fed held interest rates steady on September 20 while indicating of one more hike before the end of 2023 and fewer rate cuts in next year.

The US Fed has spent much of the last 18 months fighting historic levels of inflation, which has decelerated in recent months. The central bank was “a day late and a dollar short” in beginning to raise rates and the rapid increases over the last 18 months were just “catching up,” Dimon said.

The US Federal Reserve decided to keep interest rates unchanged but adopted a more hawkish stance. They anticipate an additional rate increase by the

China and Hong Kong stocks fell as the US Federal Reserve indicated another rate hike and tighter monetary policy. Chinas CSI 300 Index dropped 0.9% to its lowest point since November 2022, while Hong Kongs Hang Seng Index fell 1.3%. Asian stocks followed Wall Streets lead as the Fed adopted a more hawkish stance, pressuring markets.

India Business News: Indian stock indices, Sensex and Nifty, continued their decline for the third consecutive session due to concerns over a more hawkish stance by the US

"The largest emerging market which is China, is having a very poor year. And so out with China, we have seen a little bit of strength in some of the largecap tech stocks in Taiwan and Korea. India has proved to be a bit more resilient. But it is not a strong environment for emerging markets and because China is doing poorly, when I speak to emerging market fund managers, they are trying hard not to have redemptions."

Concerns grow over impact of high interest rates in the US on Indian IT stocks. Nifty IT index in the green since May.