Powell is doubling down on the US central bank's new policy framework
Rate futures and bond markets on both sides of the Atlantic had been repricing for an earlier rate-hike lift-off by the Fed and ECB over the last month
Even in announcing a $15 bn monthly cut to its $120 bn in monthly purchases of Treasuries and mortgage-backed securities, the Fed did not signal when it may begin next phase of policy 'normalisation'
Biden blames higher oil and gas prices on OPEC; EIA shows bigger than expected jump in crude inventories
Fed holds to view high inflation to be transitory; Dow down 0.14%, S&P up 0.15%, Nasdaq up 0.41%
The Sensex ended 257.14 points or 0.43 per cent lower at 59,771.92
Macro headwinds, such as high global crude oil prices, supply-chain disruptions escalating tensions between US and China, are likely to keep global and local markets volatile
The Dow Jones Industrial Average was down 114.93 points, or 0.32%, at 35,937.70
Investors in recent weeks increased bets that inflation will force the US central bank to increase interest rates sooner rather than later
While US monetary policy was far from hawkish in 2014, it stood in contrast to the ultra-dovish trajectories of central banks in Europe, Japan and other countries
A range of metrics - unemployment rate for Blacks, the labor force participation rate for women, the share of population overall that is working - remain significantly worse than before the pandemic
The dollar index traded unchanged on the day at 94.11, close to its 2021 peak of 94.563 hit last month
Will Fed chair Jerome Powell pull start reducing monetary supply even though GDP numbers for the September quarter were weak and inflation remains sticky?
What will be the economic impact of India's emission-reduction commitments at COP26? What role will Intel play in India's 5G and EV goals? Will the US Fed announce a taper today? All answers here
Pfizer rises after Covid-19 vaccine sales outlook tops estimates
In the wake of Friday's inflation data, fed fund futures fully priced in a quarter-point tightening by July 2022 and another rate increase by December
Unlike 2013, this time the taper has been communicated well in advance and RBI is ready for any challenge due to huge build-up of forex reserves and a comfortable current account position
Typically, July - September is a seasonally weak period for gold demand due to monsoons and inauspicious periods like Pitru-Paksha when buyers usually prefer to postpone gold purchases
One underlying problem today is the intersection of labour shortages and Americans who are not even looking for jobs
The Fed has signaled it will likely begin next month to taper its $120 bn in monthly purchases of Treasury bonds and mortgage-backed securities