federal reserve

US Fed Federal Open Market Committee (FOMC) meet: Jerome Powell-led US federal reserve on Wednesday kept the interest rates unchanged in the 3.5-3.75% range citing upside risks to inflation in view of the rising global energy prices.

The Justice Department has closed its investigation into federal reserve Chair Jerome Powell regarding headquarters renovation cost overruns. This move removes a hurdle for Kevin Warsh's confirmation as Fed chair. The probe's closure allows scrutiny to continue through the Inspector General's office, with potential for criminal investigation restart if warranted.

Gold price prediction today: Any upside in gold and silver prices may face resistance at higher levels, says Vedika Narvekar, Research Analyst - Commodities & Currencies, Anand Rathi Shares and Stock Brokers.

India's central bank significantly boosted its gold reserves, bringing back 104 metric tonnes domestically between October 2025 and March 2026. This move, amid global geopolitical tensions and a decline in foreign currency assets, saw gold's share in forex reserves rise to 16.7%. Globally, central banks are increasingly repatriating gold, reflecting a growing trend towards bolstering national sovereignty.

President Trump expressed disappointment if his Fed nominee, Kevin Warsh, doesn't immediately cut interest rates upon confirmation. Warsh, however, stressed his independence and commitment to fighting inflation, a priority given current economic pressures. Democrats questioned his past stances on rates, while Trump continues to advocate for lower borrowing costs, creating a potential conflict.

Petroleum Minister Ali Pervaiz Malik has admitted that Pakistan lacks even a day’s worth of strategic petrol reserves, as oil prices climb to $126 per barrel — the highest since 2022 — amid ongoing shipping disruptions in the Strait of Hormuz

Global tensions in West Asia, particularly around the Strait of Hormuz, are driving market volatility and influencing crude oil prices. Investors are also closely watching corporate earnings, with key results due this week, alongside crucial US economic data and the federal reserve's policy decision.

The Indian rupee hit a record low of 95.20 against the US dollar today. Rising global crude oil prices and a stronger US dollar are pressuring the currency. Concerns over West Asia also impact investor sentiment. Foreign investors continue to sell Indian equities. The domestic stock market also saw a decline.

The United States is looking for "concrete actions" by Iraq's next prime minister to distance the state from pro-Iran armed groups before resuming financial shipments and security aid, a senior official said Tuesday. But a senior US State Department official, speaking on condition of anonymity, said Zaidi must address the "blurry line" between pro-Iran armed groups in the Shia-majority country and the state.

Precious metals gold and silver are poised for continued pressure this week, influenced by US-Iran peace talks, central bank decisions, and key economic data. Analysts anticipate volatility as investors weigh geopolitical shifts, inflation concerns, and a strong US dollar. Domestic gold and silver futures saw significant drops, reflecting global market trends.

The sell-off was widespread, extending beyond large-cap stocks to the broader market. The Nifty Smallcap 100 index was down 0.5%, while the Nifty Midcap 100 index fell more than 1%.

Gold price prediction today: Gold prices will closely track movements on the rate decisions by several central banks, including the US federal reserve, this week, says Manav Modi, Senior Analyst, Commodity Research at Motilal Oswal Financial Services Ltd.

Elon Musk is suing OpenAI, alleging it abandoned its non-profit mission for a for-profit model influenced by Microsoft. To defend against Musk, OpenAI CEO Sam Altman has enlisted William Savitt, a top litigator who previously forced Musk to complete his $44 billion Twitter acquisition. Savitt's legal prowess was also demonstrated in his representation of Tesla's board in a past lawsuit.

Actor-turned-politician Vijay has emerged as a major force in Tamil Nadu politics, but his rise has not altered the state’s long-standing opposition to the National Eligibility cum Entrance Test. Across party lines, leaders continue to argue that NEET disadvantages rural and economically weaker students, even as the Centre defends it as a fair, merit-based system.

A California man, Cole Allen, is accused of attempting to assassinate President Trump at the White House Correspondents' Association dinner. Prosecutors revealed he photographed himself armed before the attack, which involved firing a shotgun at security. Allen, who had planned his actions, faces multiple charges.

Oil prices surged Tuesday, extending Monday's gains as stalled US-Iran peace efforts and Strait of Hormuz disruptions pressured market sentiment. WTI Crude and Brent Crude saw notable increases, driven by constrained Middle East oil flows and ongoing geopolitical tensions. Investor focus remains on diplomatic developments and central bank policy signals.

President Trump's approval rating has dropped to 34%, its lowest point, amid growing public dissatisfaction over the rising cost of living and the ongoing conflict with Iran. Economic concerns, particularly a 40% surge in gasoline prices following military action against Iran, are driving this discontent, impacting households and the Republican Party ahead of midterm elections.