US Fed to maintain bond buys until ‘substantial’ economy gains seen

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By Craig Torres The Federal Reserve said it will continue to support the economy through massive monetary stimulus until it sees “substantial further progress” in employment and inflation. At their final meeting of a tumultuous year, policy makers led by Chair Jerome Powell voted to maintain monthly bond purchases of at least $120 billion, according … Read more

FPIs net buyers in November so far; pump in Rs 49,553 cr

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NEW DELHI: Foreign portfolio investors (FPI) have pumped in a net sum of Rs 49,553 crore in Indian markets this month so far on back of high liquidity coupled with improving global indicators and clarity after the US presidential elections. FPIs invested Rs 44,378 crore in equities and Rs 5,175 crore in the debt segment, … Read more

While millions lost jobs, some executives made millions in company stock

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Even as millions of people have lost their jobs during the pandemic, the soaring stock market since the spring has delivered outsize gains to the wealthiest Americans. And few among the superrich have done as well as corporate executives who received stock awards this year. Edward Stack, chief executive of Dick’s Sporting Goods, and William … Read more

The Covid crisis exposed what financial reformers missed

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By Bill Dudley After the U.S. financial system came to the brink of collapse in 2008, Congress and regulators spent years on renovations designed to prevent that from ever happening again. More than six months into a global pandemic that has delivered another monumental shock, it’s worth asking: Were the reforms successful and sufficient? The … Read more

Fed signals rates will stay near zero for at least three years

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By Catarina Saraiva The Federal Reserve left interest rates near zero and signaled it would hold them there through at least 2023 to help the US economy recover from the coronavirus pandemic. The Federal Open Market Committee “expects to maintain an accommodative stance of monetary policy” until it achieves inflation averaging 2% over time and … Read more

In India, digital economy is the place to be in for next 5 yrs: Julius Baer

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IT services companies will also benefit from increased digitalisation of the economy, says Mark Matthews, MD, Julius Baer. This week’s action on Wall Street certainly is creating some uneasiness for market watchers. Is this the time to buy the sharp decline or is this the end of the road for markets this year? What is … Read more

Gold to gain on massive currency debasement, SkyBridge says

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By Ranjeetha Pakiam Gold will extend its record-setting rally on “massive currency debasement” and expectations for further stimulus, according to SkyBridge Capital, which recently added exposure to the metal after exiting in 2011. “When you think of currency debasement the question is, what is the dollar going to weaken against, and when you look around … Read more

Gold prices today slip as US Fed indicates it will continue providing stimulus

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NEW DELHI: Gold and silver slid lower, in-line with the trend in global markets, as the Federal Reserve indicated that it will keep flushing the market with cheap liquidity as Covid-19 continued to disrupt the lives around the world. Fed policymakers are considering tweaks to monetary policy that could result in the US central bank … Read more

King dollar’s decline ripples across the globe

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An accelerating decline in the US dollar is reverberating around the world, adding fuel to a global momentum rally that has boosted prices for everything from technology stocks to gold. The US dollar index, which measures the greenback against six other major currencies, is down around 9% from its March highs and is on track … Read more