Fed in focus: Lower interest rates alone may not aid capital flows to India

This is an unusual position in modern central banking, and particularly for the Fed

The outcome of the Federal Open Market Committee (FOMC) meeting of the United States Federal Reserve is always closely watched by financial markets across the world, but the interest this time was much higher than usual. In terms of policy action, the Fed decided to lower the target range for the federal funds rate by 25 basis points to 4-4.25 per cent on Wednesday, as was widely expected by financial markets. However, there was significant interest in how the FOMC voted on the policy decision and the future expectations. White House Economic Adviser Stephen Miran was confirmed by