Savings Effect

The US Federal Reserve is set to announce policy verdict later today, Wednesday, 16 September with markets bracing for a fresh rate hike as inflation, bond yields and oil prices continue to climb.

The US House of Representatives voted to advance a bill that would authorise President Donald Trump to impose 100% tariffs on India and other countries for buying oil and gas from Russia and extend existing sanctions on Iran. The resolution to advance the Russia sanctions bill and a slew of other legislations was approved by a 214-211 vote, shocking the House Democratic leadership.