FOMC Meet Outcome: Funds rate target remains unchanged | Steve Brice & Santosh Rao to ET NOW

The US Federal Reserve kept benchmark interest rates as is, near zero. The Fed indicated that it will begin reducing monthly asset purchases “soon”. Economic projections point at slower economic growth than anticipated this year. The US GDP is expected to grow 5.9% this year, compared to the 7% forecast in June, though the 2023 growth forecast has now been improved. Further, there is higher inflation than previously projected. Steve Brice, Chief Investment Strategist, Standard Chartered and Santosh Rao, Head of Research & Partner, Manhattan Venture Partners decode the Fed policy on The Market. Watch the full detailed analysis here.
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