Markets likely to remain nervous over worsening geopolitical situation: Yardeni
Ed Yardeni, President of Yardeni Research believe the US Federal Reserve will leave interest rates unchanged at the upcoming policy announcement on November 1.
The geopolitical crisis is worsening and this could keep global markets nervous, according to Ed Yardeni, President of Yardeni Research.
Yardeni expects the US Federal Reserve Chair Jerome Powell to leave interest rates unchanged at the next monetary policy announcement scheduled on Wednesday (November 1).
"Right now, fiscal policies are the main issue facing the market, in addition to the geopolitical issue, rather than monetary policy," he said.
Experts see the US Fed pausing on short-term rate hikes following the strong economic data released on October 26. The US economy expanded at a robust 4.9% annual rate from July through September.
Since March 2022, the Federal Open Market Committee (FOMC) has raised its key interest rate 11 times, bringing it to the current targeted range of 5.25% to 5.5%. This marks the highest level in 22 years.
Yardeni also discussed how international tensions, particularly between China and the West, are influencing investment choices.
He believes India may benefit as a manufacturing hub as an alternative to China due to these geopolitical tensions.
Also Read
For more details, watch the accompanying video
(Edited by : Shweta Mungre)
First Published: Oct 30, 2023 12:40 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Visiting temples, obliging selfie requests, jabbing rivals – Kangana Ranaut is wooing voters on campaign trail
May 5, 2024 8:23 PM
Election Commission grants shifting of 7 polling stations in Kullu, Mandi, Shimla and Kinnaur
May 5, 2024 6:50 PM