Federal Reserve Keeps Markets on Tenterhooks but India Prevails

All eyes, ears and minds were glued to a single event that took place recently: the US Federal Reserve meeting. The wait for the meeting outcome had been intense, and there were high expectations that the Federal Reserve would provide a clear and decisive message. However, the result was a little bit of this and a little bit of that. The Federal Reserve announced another 25 bps hike, taking the effective rate to the highest since the global financial crisis (GFC) of 2007-08. But if anyone was hoping that the meeting would be very informative and decisive, well, that was not to be.