As Winter Session of Parliament begins, an agenda jam-packed with economic legislation awaits MPs. Donald Trump meets Jerome Powell to discuss Fed's interest rates and state of US economy.
Policy is King: The Winter Session of the Indian Parliament has begun, and the economic legislative agenda is quite heavy-duty. Some of the economic Bills that will be taken up in the coming days include the Companies (Amendment) Bill, the Taxation Laws (Amendment) Bill, the Insolvency and Bankruptcy (Second Amendment) Bill, the Competition (Amendment) Bill and the Multi-State Cooperative Societies (Amendment) Bill. An analysis of these Bills and their provisions can be read here.
Donald and Jerome Sitting on a Tree: US President Donald Trump and Federal Reserve Chairman Jerome Powell haven't exactly been best buds. Not that they ought to - the Central Bank of any country should not be pliable and influenced by the Executive, of course. But Trump's history of Twitter tirades against the Fed for not cutting interest rates further or not going negative are unheard of in recent American history. This added chemistry...or lack of it?...meant there was more interest than usual when the two men met on Monday to discuss the economy.
Trump said the meeting was "good & cordial" and that the two of them discussed interest rates, negative interest, low inflation, easing, Dollar strength & its effect on manufacturing, trade with China, EU & others, etc. Powell in his statement reiterated that the Fed's future decisions will remain non-political. And in separate meetings with panels on Capitol Hill, Powell said he felt that monetary policy was appropriate and likely to hold steady unless there are some significant changes in the economic outlook. CNBC
(We are now on your favourite messaging app – WhatsApp. We strongly recommend you Subscribe Now to start receiving your Fresh, Homegrown and Handpicked News Feed.)