By Steve Matthews and Sarina Yoo Investors may need to hunker down for a slump in US stocks if President Joe Biden opts for a surprise choice and doesn’t renominate Jerome Powell as Federal Reserve chair. Nearly 90% of the economists surveyed by Bloomberg expect Biden to keep Powell in the job, an overwhelming number … Read more
MUMBAI: The Indian rupee‘s near-term fortunes may directly be influenced by the Reserve Bank of India‘s intent on preventing any further depreciation in the currency as the surge in COVID-19 cases hits jobs and growth, economists and traders said. The rupee has already lost 2.6% against the dollar so far this month, putting it on … Read more
NEW DELHI: India’s economy may have contracted by as much as a fourth in the June quarter because of Covid-19 and the lockdown that ensued, according to a poll of 11 economists conducted by ET. They warned that a recovery may take a while as the virus spreads and infection numbers rise, prompting further localised … Read more