India divided on 'crude politics' with Russia
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Trump nominates Kevin Warsh as Fed chair
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President Donald Trump on Wednesday sent the U.S. Senate his nomination of former Federal Reserve governor Kevin Warsh to be the U.S. central bank's next chair, ticking off an early step in what promises to be a contentious path toward his long-held goal of installing a rate-cut friendly Fed chief. Warsh, who would take over from Jerome Powell after his leadership term ends May 15, would serve a four-year-term that began February 1, according to a notice on the White House website. That's the seat currently occupied by Fed Governor Stephen Miran, another rate-cut advocate whom Trump nominated in September.The next public step in the process is a hearing by the Senate Banking committee; a spokesman for the panel did not immediately respond to a request for information on the timing.One of the committee's members, Republican Senator Thom Tillis, has promised to block any Fed nomination as long as a Department of Justice investigation into Powell regarding his...
India macro view by RBI Guv Sanjay Malhotra
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Reserve Bank of India governor Sanjay Malhotra told Sangita Mehta and Sruthijith KK in an interview that India's Goldilocks phase can be sustained as macroeconomic fundamentals have strengthened over the decades while cautioning that global uncertainty, climate risk and technology disruptions continue to pose challenges. Policy rates are likely to stay at current levels or even go lower for an extended period, he said, provided there are no shocks. Malhotra also touched upon the economy, inflation, electronic payments, non-bank lenders, artificial intelligence and the insolvency code among other matters. The interview took place before the West Asian conflict began. Edited excerpts:Given the change in tariff assumptions and the latest inflation and GDP data, have you revised your growth and inflation outlook?In the recent MPC (monetary policy committee) statement, we mentioned that in view of the forthcoming revision in the base year and methodology, we will be giving the full-year...