The U.S. Treasury market has diverged from the Federal Reserve in painting a bleak picture of future U.S. economic growth and inflation, but the central bank looks unlikely to bend to the market’s will anytime soon barring a notable turn for the worse.
NEW YORK – The US Federal Reserve surprised markets recently with a large and unexpected policy change. When the Federal Open Market Committee (FOMC) met in December 2018, it hiked the Fed’s policy rate to 2.25-2.5 percent, and signaled that it would raise the benchmark rate another three times, to three to 3.25 percent, before stopping. It also signaled that it would continue to unwind its balance sheet of Treasury bonds and mortgage-backed securities indefinitely, by up to $50 billion per month.
KATHMANDU, Aug 31: The value of Nepali rupee against the US dollar has plunged to a new low. The rupee fell to 113.49 against the US dollar, according to the exchange rate fixed by Nepal Rastra Bank (NRB) for Friday. The rate was Rs 113.25 on Thursday.