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Below the Quote on Comment On US Fed slashes rates by Mr. Sujit Kumar, Chief Economist, National Bank for Financing Infrastructure and Development (NaBFID)

“With 50 basis points cut in policy rate along with revised projections of expected rates, the US Federal Reserve has signaled dawn of monetary accommodation era. The inflation is on course to target level while growth and employment takes priority in the Fed's policy matrix. Compared to June, 2024, the median expectations of the Board members are revised slightly upwards on unemployment  while inflation projections are revised down. 

The Chairman, Powell affirmed that demand conditions in world's largest economy is in good shape, thus downplaying any hard landing concerns. With Dollar likely to be weaker,  emerging market central banks can very well focus on addressing domestic concerns, going forward.”

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