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Fed Chair To Congress: Do These Three Things Now To Save The US Economy

Video Credit: Wochit News - Duration: 00:39s - Published
Fed Chair To Congress: Do These Three Things Now To Save The US Economy

Fed Chair To Congress: Do These Three Things Now To Save The US Economy

The US Federal Reserve is expected to remain apolitical and stay out of the business of Congress.

Even so, President Donald Trump has repeatedly jeered at Fed Chair Jerome Powell, even going so far as to call him 'an enemy of the state.'

Nevertheless, Business Powell stuck his neck out in a Congressional hearing this week, calling for more government intervention in the economy.


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Donald Trump Donald Trump 45th president of the United States

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United States Congress United States Congress Legislature of the United States

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Congress never wanted foundation to be laid where Lord Ram was born: CM Yogi [Video]

Congress never wanted foundation to be laid where Lord Ram was born: CM Yogi

Uttar Pradesh Chief Minister Yogi visited Ram ki Paudi to inspect arrangements ahead of Ram Mandir Bhoomi Pujan. Speaking to ANI, CM Yogi on August 03 lambasted on Congress and said that the party didn't want foundation stone be laid where Lord Ram was born. "Congress should look in its past. They didn't want that a foundation stone be laid where Lord Ram was placed. They didn't want the conclusion of the issue," said Adityanath in Ayodhya. Foundation stone laying ceremony of Ram Temple is on August 05. Prime Minister Narendra Modi is scheduled to lay foundation stone of Ram Temple.

Credit: ANI    Duration: 02:32Published
Ram Temple politics: MP minister's 'asur' jibe at Digvijaya Singh [Video]

Ram Temple politics: MP minister's 'asur' jibe at Digvijaya Singh

Politics over the Ram temple foundation laying event is escalating with every passing day. Congress leader Digvijaya Singh claimed that BJP leaders were being found Covid positive due since they're not following the beliefs of Hinduism. BJP was quick to respond with MP Home Minister Narottam Mishra likening the Congress leader to an 'asur'. Digivijaya Singh launched another attack on the BJP, this time mocking the foundation stone laying event on the 5th saying, Rajiv Gandhi had already performed Shilanyas earlier. Digvijaya has also called on PM Modi to defer the foundation laying ceremony saying that the date was inauspicious. The war of words come just two days before the grand 'bhoomi poojan' event in Ayodhya. PM Modi is all set to lay the foundation stone in the presence of 200 other dignitaries, including RSS chief Mohan Bhagwat. Grand preparations are underway in the temple town to make the event a mini-diwali like affair. Coming as it does in the middle of a pandemic, all preventive measures have also been taken at the temple site. Watch the full video for all the details.

Credit: HT Digital Content    Duration: 02:16Published

Federal Reserve Federal Reserve Central banking system of the United States

Sensex cracks by 335 points but pharma stocks outperform [Video]

Sensex cracks by 335 points but pharma stocks outperform

Equity benchmark indices swung nearly 1 per cent lower during the afternoon session on July 30 ahead of the expiry day of monthly futures and options contracts. At the closing bell, the BSE S and P Sensex was down by 335 points or 0.88 per cent at 37,736 while the Nifty 50 lost 101 points or 0.9 per cent at 11,102. Most sectoral indices at the National Stock Exchange were in the red except for Nifty pharma which gained by 3.1 per cent and IT which crawled up by 0.6 per cent. Nifty bank slipped by 2 per cent, financial service by 1.8 per cent and metal by 1.2 per cent. Among stocks, energy majors were big losers with Bharat Petroleum Corporation down by 8 per cent to Rs 417.80 per share. IndianOil Corporation dipped by 4.1 per cent, ONGC by 2.4 per cent and Power Grid Corporation by 2.3 per cent. Banking scrips too witnessed losses with IndusInd Bank dipping by 5.4 per cent, Axis Bank by 3.4 per cent and State Bank of India by 2.4 per cent while home loan lender lost by 3.6 per cent. Pharma stocks, however, witnessed handsome gains with Dr Reddy's advancing by 4.6 per cent to close at Rs 4,500 per share. Sun Pharma and Cipla were up by 3.7 per cent and 0.8 per cent respectively. Wipro, Infosys, Vedanta, Maruti Suzuki, Britannia and Reliance Industries too traded with a positive bias. Meanwhile, Asian stocks were flat as the US Federal Reserve members voted to leave the target range for short-term rates between 0 and 0.25 per cent to support the country's virus-battered economy. Japan's Nikkei and Hong Kong's Hang Seng were down by 0.26 per cent and 0.69 per cent but South Korea's Kospi moved up by 0.17 per cent.

Credit: ANI    Duration: 01:29Published

With coronavirus surging, Fed keeps key interest rate near zero, vows more support

With COVID-19 resurgent across much of U.S., the Fed held interest rates near zero and vowed more support for economy. It noted pickup in jobs and economy.

Visa And MasterCard May Be Investigated By The Feds [Video]

Visa And MasterCard May Be Investigated By The Feds

US Senator Dick Durbin is requesting the Fed probe card networks and issuers, such as Mastercard and Visa. The senator wants an investigation over potentially anticompetitive fees. Durbin's letter hi-lighted that merchants are paying excessive debit card fees during the pandemic. The companies have planned major fee changes for US-based merchants. The Feds are requesting a competition-based investigating into Visa, Mastercard, and major issuers.

Credit: Wochit News    Duration: 00:37Published
Fed will reassure markets - economist [Video]

Fed will reassure markets - economist

Spartan Capital Securities' Peter Cardillo expects the Fed to say it'll do "whatever it takes" to keep adding liquidity to the markets when policymakers meet this week. But he also tells Reuters' Fred Katayama that he thinks there's a good chance the markets will pull back, regardless of the Fed, because "the economy is faltering."

Credit: Reuters Studio    Duration: 04:14Published

Jerome Powell Jerome Powell American central banker, and 16th Chairman of the Federal Reserve in the United States

Powell: Virus resurgence harming recovery [Video]

Powell: Virus resurgence harming recovery

Federal Reserve Chairman Jerome Powell on Wednesday repeated his pledge to use a "full range of tools" to support the U.S. economy and keep interest rates near zero for as long as it takes to recover from the fallout from the coronavirus outbreak, saying the economic path will depend significantly on the course of the virus.

Credit: Reuters Studio    Duration: 02:24Published
Powell: strength, pace of recovery depends on virus [Video]

Powell: strength, pace of recovery depends on virus

A full U.S. economic recovery will not occur until the American people are sure that the novel coronavirus epidemic has been brought under control, Federal Reserve Chairman Jerome Powell told Congress on Tuesday. Conway G. Gittens has more of his testimony.

Credit: Reuters Studio    Duration: 02:40Published
Powell: U.S. entering second phase of economy reopening [Video]

Powell: U.S. entering second phase of economy reopening

Federal Reserve Chair Jerome Powell on Tuesday testified before the Senate Banking Committee and said that the U.S. economy appears to be entering the second phase of reopening assuming the virus remains under control.

Credit: Reuters Studio    Duration: 01:23Published

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