- In a move to contain the inflation that is affecting the global markets the US Federal Open Market Committee (like MPC in India), raised the interest rates by 0.5%.
- The change in the position of the US currency has a ripple effect on the global economies, including India. The US Fed is led by Jerome Powell.
- Impacts on the Indian Economy
- Foreign Portfolio Investments will be poorly hit as they would find it better to park their funds in the US Market. FPI of the volume 1.67 lakh crore has been pulled out so far, which is a matter of great concern.
Question:
Q.1 Who is the chief of US Federal Reserves?a. Gita Gopinath
b. K. Venkatraman
c. Jerome Powell
d. Asafa Powell