Fed chair Jerome Powell reiterated that policymakers still intend to cut rates before the end of this year, assuming economic growth continues. Investors cheered the Fed commentary pushing all the major Wall Street indices to close at fresh record highs
Indian markets are likely to rise on March 21, tracking gains in the US and Asian markets after the Federal Reserve kept the borrowing costs unchanged and stoked expectations of as many as three rate cuts this year.
Trends in the GIFT Nifty indicate a strong start for the broader index in India, with a gain of 146 points or 0.67 percent. The Nifty futures were trading around the 22,071 level.
Fed chair Jerome Powell reiterated that policymakers still intend to cut rates before the end of this year, assuming sustained economic growth.