PR No – 12
8th November, 2024
New Delhi
Continued softening federal reserve rate will boost economic and financial market sentiments :PHDCCI
The softening of US Fed rate by 0.25 percentage points, to 4.5%-4.75%, will boost the momentum of business activities, on the back of strong economic activity in the US economy accompanied with stable inflation, said Mr Hemant Jain, President, PHDCCI.
This rate cut will benefit the consumers as mortgage rates may decline, said Mr Hemant Jain.
Moving forward, given the uncertain global economic environment, we expect the Fed to remain strongly committed to supporting maximum employment and returning inflation to its 2% target, said Mr Jain.
The positive business and consumer sentiments will boost financial markets and overall economic momentum globally, said Mr Jain.
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Warm Regards,
Media Division
PHD Chamber of Commerce and Industry