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The key “affordability” rate briefly touched its highest level since 2007 on Monday.
By Dharamraj Dhutia and Jaspreet Kalra MUMBAI, Sept 15 (Reuters) - Pressure on the rupee is likely to persist this week as oil prices stay above $100 a barrel and expectations of a U.S. Federal Reserve rate hike grow,
Fed Chairman Kevin Warsh is up against it.
Earlier this month, Druckenmiller, whose views of the Fed and U.S. monetary policy have become closely scrutinized due to his close ties with Warsh and Bessent, put his name to a scathing Wall Street Journal op-ed, slamming his former protégé for attempting to manipulate and lower long-term bond yields.
Looking at history, the benchmark S&P 500 index has seen an average three-month return of negative 2% at the start of a Fed hiking cycle throughout the past few decades, according to Goldman Sachs.
The Federal Reserve is expected to raise interest rates to fight inflation, addressing persistent price increases pushed higher by global events. Learn more.
Some economists are calling on the central bank to wait before raising interest rates, out of concern the economy may be vulnerable beneath the surface.