Market Live: Sensex falls over 200 pts, Nifty below 11,000; Indiabulls Housing tanks 10%

More Fed Rate Cuts likely?

Calling economic and financial market signals for the economic outlook “mixed,” Minneapolis Federal Reserve Bank President Neel Kashkari signalled that he is likely to support further reductions in US interest rates to support growth.

Trade tensions are making businesses cautious, he said, and the inversion of the US yield curve that this week sent global stocks plummeting “is an indicator that people are nervous.” At the same time, the jobs market is strong, and so is consumer spending.

As Fed policymakers gear up for their September rate-setting meeting, he said, they will be assessing all of the data to make a decision. “I am leaning towards the camp of, ‘yes we need to give more stimulus to the economy, more support, we need to continue the expansion and not allow a recession to hit us,'” he said. Source: Reuters.

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