The policy shift, though telegraphed in recent statements, is a significant change for the Fed and central banking more generally, as inflation for decades has been the economic villain to be stamped out at every turn. Powell warned inflation that is "persistently too low can pose serious risks to the economy". Eoin Murray, head of global investment at Federated Hermes, said the Fed's moves this year had avoided a liquidity crisis.
The Fed chairman is likely to make a case for low interest rates and higher inflation in an overhaul of the central bank's policy approach in his remarks at the Jackson Hole symposium, being held virtually this year, Reuters reported . Though the labour market was on fire in the two years leading up to the pandemic, inflation was falling well short of the Fed's longer-run, two-percent target.
Oil prices traded little changed, pressured by worries about the demand outlook during the coronavirus pandemic but buoyed as US producers shut output in the Gulf of Mexico ahead of Hurricane Laura . In point of fact, while S&P 500 and Nasdaq had ended up the day in all-time closing highs on record, a drag on Apple Inc. stocks ahead of its four-to-one split had heavily impacted all three key indices of the Wall St, as the reshuffle in stock splits would decline Apple Inc.'s weight in Dow ...
Revenue Secretary Ajay Bhushan Pandey said of this, Rs 97,000 crore is on account of GST shortfall , while the rest is due to the impact of COVID-19 on the economy. The amount can be repaid after five years (of GST implementation) ending 2022 from cess collection. How can compensation be paid to states if cess collections are insufficient? "This is so because there was hardly any GST Collection in April and May", he said.
Belarus returned 32 of the detained Russians weeks later as Belarusians took to the streets to protest the results of the August 9 vote in which President Alexander Lukashenko claimed victory. "In reality, they were dragged into Belarus and presented as a quote-unquote "strike force" to destabilize the situation during the presidential campaign", Putin told the Rossia 24 state broadcaster.
Maas said Turkey wants dialogue, and Germany will do its part to reduce tension . Greece countered with a similar deal with Egypt, setting seas boundaries and marking Exclusive Economic Zones (EEZs) for energy hunts, prompting Erdogan to cancel planned talks with Greek officials in Ankara.