By Barani Krishnan
All eyes are currently on the crucial two-day FOMC meeting to see whether the hawkish central bank will go for a 50-bps hike or a smaller one or a halt following the latest crunch in the financial sector.
Annual inflation dropped from 6.4% to 6%, the smallest annual gain since September 2021, and is now down by one-third from its peak of more than 9% in June last year.