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Days after Trump won his way to the White House, becoming the 47th President of the United States, the US Federal Reserve slashed the interest rates by 25 basis points, bringing them within the range of 4.5-4.75%. This is the second time this year that the Fed has lowered the interest rates, after cutting them down by 50 basis points in September 2024. u Fed chair Jerome Powell noted that monetary policy remains tight as inflation remains elevated at 2.4% as of September 2024, slightly above the 2% mark set by the commission. However, the Fed remained optimistic about the current state of the economy. "The Committee seeks to achieve maximum employment and inflation at 2% over the longer run. The Committee judges that the risks to achieving its employment and inflation goals are roughly in balance. The economic outlook is uncertain, and the Committee is attentive to the risks to both sides of its dual mandate," the FOMC (Federal Open Market Committee) noted in its press release. The rate cut was along widely anticipated lines, although experts were wary of the Fed's way ahead, given that Donald Trump has been elected as the US President. In the past, he has, on multiple occasions, expressed his desire to yield greater influence on the Fed, apart from publicly criticizing Powell. However, Powell continued to stand his ground, noting that Trump cannot legally sack him. He believed in keeping the Fed independent, at least until his tenure as governor ends in 2028. He highlighted that even if he is explicitly asked by Trump to quit, he won't do so. <h2>Trump's regime to inch up inflation?</h2> Trump's electoral promises, if translated into policies, could spell disaster for the Fed's effort to curtail inflation. Reportedly, Trump has promised to levy aggressive tariffs against US trading partners, particularly China, and even extend his 2017 tax cuts. This could mean higher levels of the federal deficit, which would push up prices, wages, and hence, inflation, even as the Fed tries to consistently bring it under control. Apurva Sheth, Head of Market Perspectives and Research, SAMCO Securities, notes that it wasn't a surprise when the US Fed cut interest rates by 25 basis points (bps) to 4.75%. The Fed had given enough clues, and the market too had anticipated these rate cuts. "However, what was surprising was how the <keyword id="23863852" type="General" weightage="20" keywordseo="US-10-year-bond-yields" source="keywords">US 10-year bond yields</keyword> moved over the last one and a half months, which have been rising relentlessly from 3.6% to almost 4.5% despite the 50 bps cut in the last Fed meeting. It seems that the market is anticipating slower rate cuts going ahead, and maybe there are even chances of inflation rising. The bond yields have cooled off and slipped below the 4.335% mark. This should be bullish for emerging markets like India," he added.

US Fed cuts interest rates by 25 bps, Powell notes Trump's victory to have no impact on policy decisions

<keyword id="19991358" type="General" weightage="100" keywordseo="Indian-markets" source="keywords">Indian markets</keyword> are navigating choppy waters as global economic shifts, from rate cuts to evolving political climates, create new pressure points across the financial landscape, according to a recent report by ANI attributed originally to the Union Bank of India. The domestic stock and bond markets showed signs of strain, with <keyword id="19910363" type="General" weightage="20" keywordseo="bond-yields" source="keywords">bond yields</keyword> witnessing slight adjustments. India’s 10-year government bond yield dipped to 6.82%, a decrease from the previous session, reflecting cautious investor sentiment as the markets react to shifting global indicators. Meanwhile, the 5-year bond yield remained steady at 6.76%, a signal of lingering hesitation amid economic unpredictability. In the currency market, the rupee faced a notable decline, ending the day at ₹84.3725 against the US dollar, slipping from its prior close of ₹84.2800. Market analysts point to significant capital outflows as a key factor, with investors moving funds to perceived safer assets overseas. This migration has weighed heavily on the rupee, underlining the currency’s vulnerability in an environment of global economic flux. India’s stock market bore the brunt of this volatility, with key indices falling over 1%, effectively erasing the gains of a previous rally. This abrupt drop reportedly reflects renewed investor anxiety, largely triggered by the recent <keyword id="20189882" type="General" weightage="20" keywordseo="US-presidential-election" source="keywords">US presidential election</keyword> results. Experts suggest that the election has introduced a fresh layer of uncertainty, not only for the US economy but for global markets, impacting everything from policy decisions to investor sentiment. Analysts are also keeping a close eye on upcoming decisions by central banks, which will likely shape the path forward for the Indian equities market. Commodities showed contrasting trends, with Brent crude prices falling on lower demand expectations, as economic indicators point toward cautious spending globally. Gold, on the other hand, experienced a modest rise as investors sought refuge in safe-haven assets, highlighting a shift towards risk aversion among market participants. Globally, major central banks made coordinated efforts to sustain economic growth, with the Bank of England (BoE) announcing a 25 basis-point cut, lowering its benchmark rate to 4.75%. The BoE’s Monetary Policy Committee (MPC) largely backed this move to counter inflation, which has been declining, albeit gradually. Across the Atlantic, the US Federal Reserve mirrored this action with its own 25 basis-point cut, a sign of confidence in the ongoing economic recovery. Both rate cuts, though modest, signal a global trend towards caution as economies work to balance growth with stability. In Asia, the People’s Bank of China (PBoC) maintained its supportive stance. Governor Pan Gongsheng sought to reassure foreign investors by reaffirming the PBoC’s commitment to growth-oriented policies. Pan emphasized enhanced communication and pledged to open China’s financial services sector further, aiming to attract more international participants. Europe, meanwhile, faced mixed economic signals. Germany reported a steep 2.5% drop in industrial production in September, signalling a slowdown in manufacturing, while the Eurozone saw a mild 0.5% rise in retail sales, reflecting cautious consumer optimism in the region. Adding another layer to the global economic landscape, the European Union’s Climate Change Service warned that 2024 could be the hottest year on record, underscoring urgent climate challenges just as the UN COP29 climate summit approaches. The summit, set to take place in Azerbaijan, aims to rally increased funding for climate action, though tempered expectations linger in light of recent US political shifts. On the domestic front, Niti Aayog CEO BVR Subrahmanyam spoke about India’s potential role in pivotal global trade agreements, specifically the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). These partnerships, Subrahmanyam suggested, could bolster India’s Micro, Small, and Medium Enterprises (MSME) sector, which currently accounts for 40% of India’s exports, offering a strategic advantage for Indian trade in an interconnected world. As the Indian markets digest these developments, experts believe continued volatility could be the theme for the coming months. (with ANI inputs)

Indian markets under pressure as global rate cuts stir uncertainty, new report says

No one's going to sound an alarm, blast out a text message, or shoot you an email about it, but the US economy is undergoing a historic shift. We are leaving one long period of expansion — what economists refer to as a "supercycle" — and entering a very different one.Over the past 15 years, the economy has been characterized by weak demand and low interest rates — a decade-and-a-half hangover from the Great Recession. Now, experts tell me, that is coming to an end. The world has changed, and we are entering an era of higher growth, creeping inflation, and geopolitical instability that will reroute the flow of money around the world. A new era has arrived, but it's going to be bumpy.The good news is that this new era looks as if it will be unencumbered by some of the problems that put a ceiling on growth during the previous era. The most salient feature of the old period, economists say, was the risk of deflation — the possibility that a lack of demand would cause wages and prices to spiral downward, a trap that is <a target="_blank" href="https://www.businessinsider.com/inflation-economy-deflation-unemployment-job-market-recession-outlook-paul-krugman-2024-7">extremely difficult to escape</a>. In an effort to avoid that fate, policymakers in Washington pushed interest rates down to zero and encouraged <a target="_blank" href="https://www.businessinsider.com/softbank-crashing-investments-uber-wework-monopoly-failure-2019-11">all kinds</a> of <a target="_blank" href="https://www.businessinsider.com/charlatans-show-up-when-wall-street-stock-market-gets-weird-2021-3">risky</a> <a target="_blank" href="https://www.businessinsider.com/twilight-of-tech-gods-recession-stock-market-crash-silicon-valley-2022-5">behavior</a> <a target="_blank" href="https://www.businessinsider.com/bill-ackmans-big-pharma-trade-is-making-wall-street-a-super-awkward-place-2014-10">among</a> investors, businesses, and everyday consumers. Investors trying to reach their benchmarks "had to creep out on the risk spectrum," Josh Hirt, a senior economist at Vanguard, tells me. "Supercheap debt," he says, made it easy for businesses to "overexpand and overhire."The pro-risk environment had some earth-shifting consequences. Silicon Valley put the internet on our phones, China blew a massive bubble in its property market, and the world started investing in renewable energy. But low interest rates did little to boost demand, and the economy consistently grew slower than it did before the crash, never notching above 3% GDP growth. It was only after the massive government stimulus, spurred by the pandemic, that the economy reached escape velocity, pushing up wages and starting to grow at a healthy clip.Now, economists say, we're entering a supercycle that will be characterized by three sweeping forces. First, higher interest rates will reward savers, making it more expensive to take risks. Second, geopolitical and economic volatility will generate inflationary effects, reintroducing the specter of soaring prices. And third, industrial planning will be increasingly influenced by national-security concerns, altering supply chains across industries. How low interest rates wind up settling will establish a new gravitational pull in global markets, recalibrating the forces that determine where the economy is most likely to grow — and where investment is most likely to flow.The new supercycle "puts the economy in a completely new era," says Silas Myers, the CEO of Mar Vista Investments, which oversees $4 billion in assets. He warns that an entire generation of investors, lenders, and entrepreneurs have failed to embrace the "profound impact" that the new economic era will have on their businesses."We were in a time that was less demanding and more forgiving," Myers says. "But that time is ending."One of the clearest signs that a new economic supercycle has arrived is when the financial rules go topsy-turvy. The previous supercycle was ushered in when the Federal Reserve, in response to the destruction caused by the financial crisis, cut its benchmark interest rate to 0% — the first time the central bank went all the way to the bottom.The structural shift sent shockwaves throughout the world. Yields on Treasury bonds tanked, meaning investors had to start taking some serious risks if they wanted to make money. This new adventurism pushed stocks higher and higher. Capital went flying into China and other emerging markets in record amounts — some $1 trillion in 2010 alone. Venture capitalists sank billions into companies like Juicero and <a target="_blank" href="https://www.businessinsider.com/wework-adam-neumann-apartment-startup-investment-silicon-valley-vc-apocalypse-2022-8">WeWork</a> that had no viable plan to turn a profit. And with interest rates so low, companies could suddenly load up on debt: From 2007 to 2017, global nonfinancial corporate debt doubled, to $66 trillion. Until the pandemic hit, inflation and wage growth both remained below 3.9%. The world had changed. Now, with the arrival of a new supercycle, money managers are once again being forced to adapt to a changing set of economic realities. Normally, when the Fed hikes interest rates rapidly, the stock market tanks. But that's no longer true. From 2022 to 2024, as the benchmark federal funds rate shot up to 5.5% from 0.5%, the Nasdaq 100 and the S&amp;P 500 soared by 23% and 22%. Higher interest rates also failed to spur widespread layoffs or crater the economy. <a target="_blank" href="https://www.businessinsider.com/jobs-report-labor-market-hiring-layoffs-quits-recession-sahm-rule-2024-8">Unemployment has stayed below 4.3%</a>, and GDP growth has remained solid, <a target="_blank" href="https://www.businessinsider.com/gdp-gross-domestic-product-second-quarter-2024-us-economy-2024-7">defying fears of a recession</a>. In short, something has scrambled the natural interactions of the marketplace. It's as if you put your hand over a hot stove and your fingers turned ice cold.One explanation for the economy's topsy-turvy behavior is a change in what economists call the neutral interest rate — the optimal point for encouraging growth without triggering inflation. After the financial crisis in 2008, the economy was so weak that the neutral rate went to zero to encourage money to flow more freely. But now the market's weird nature may be signaling that the neutral rate has risen above the Fed's ideal target of 2%. That would explain why the Fed's higher rates are no longer putting the brakes on growth. Fueled by the post-pandemic government stimulus, the economy's baseline has shifted. Over at Vanguard, Hirt and his colleagues predict that the neutral rate will stay higher for the foreseeable future, eventually settling at about 3.5%."Even if we do dip below 3.5%, the Fed will be anchored at that higher rate," Hirt says. "If the economy were to experience weakness and we have to cut rates, we still don't think that means taking rates back to zero."Unless you're a boomer, you've probably never experienced a world with this high a neutral rate. It changes the nature of risk, which changes what people decide to do with money on micro and macro levels. If you can get a decent return parking your money in ultrasafe government debt, why risk investing it in a startup or stomach the stock market's volatility? This isn't to say no one will be out here taking risks with their cash — it will just flow in different directions. That's because consumers are in a better place now than they were in the era that emerged after the Great Recession.The economy is "an extraordinarily diverse and dynamic animal," Joe Quinlan, the chief market strategist at Bank of America, assured clients in a recent note. It's "a $28 trillion hydra-headed behemoth that beats to the tune of many different sectors." As the Fed's higher rates were putting a strain on rate-sensitive sectors like housing — which makes up 16% of the economy — Big Tech and travel-starved households were spending money fast and loose. The experience showed that overall consumption can continue to rise even when significant swaths of the economy are struggling.So what can we expect from the new economic supercycle? Like every cycle, it will have its upsides and downsides. Rising interest rates will make loans more expensive, forcing businesses to make more-thoughtful decisions about debt. But they'll also boost savings accounts and interest income. In addition, a faster-growing economy will tighten the labor market, empowering workers to continue to fight for a larger slice of the pie. Since 2019, the bottom 10% of earners have seen a wage increase of 13%.Shifting away from the "grow at all costs" mindset of the previous supercycle has also incentivized governments — especially in the developed world — to do more to police markets and protect consumers. Whether it's capping the price of drugs or enforcing antitrust rules more aggressively, polls suggest Americans want to see <a target="_blank" href="https://prospect.org/economy/2024-08-27-polling-voters-action-corporate-power/">more limits</a> on <a target="_blank" href="https://today.yougov.com/economy/articles/47798-most-americans-oppose-monopolies-and-support-antitrust-laws">corporate power</a> and <a target="_blank" href="https://www.pewresearch.org/short-reads/2021/07/20/56-of-americans-support-more-regulation-of-major-technology-companies/">more regulation</a> to safeguard citizens. For the first time in years, the Federal Trade Commission has begun going after pharmaceutical middlemen, opposing mergers between grocery giants, and taking big swings at Big Tech.The new supercycle will also have profound consequences worldwide, upending how and where money is most likely to flow. In China, the debt bubble that formed in the property sector during the previous cycle is sucking cash away from <a target="_blank" href="https://www.businessinsider.com/china-xi-jinping-stimulus-plan-wall-street-stock-market-economy-2024-9">businesses and households</a>, undermining China's bid to become the world's leading economic superpower. And with Europe growing more slowly than the US, foreign investors are steering more of their money to America. In the second quarter of this year, foreign investors owned $8.2 trillion worth of US Treasury bonds, up by 7.3% from a year earlier. Foreign investment is also soaring in US corporate bonds (up by 9.8%) and US equities (up by 23%). Quinlan says he expects the US economy to continue outperforming the rest of the world, given the fiscal and demographic challenges facing the European Union, Japan, and China. In an era of increasing instability, when former sources of growth are flailing, the United States is widely viewed as the safest place to find returns."Not lost on investors is the fact that the US economy remains among the most competitive, innovative, and resilient in the world," Quinlan wrote in a recent note to investors. "Aerospace or agriculture, energy or entertainment, transportation or technology, goods or services — pick any sector or activity, and there's a good chance the US leads the rest of the world. All of this has helped fuel demand among foreign investors for US securities of all stripes." America's economic diversification is also expected to give it a leg up in one of the most volatile features of the new era: trade conflict. The US and China are already battling for control over critical industries like <a target="_blank" href="https://www.businessinsider.com/china-xi-jiinping-future-tech-global-economy-semiconductors-military-failing-2022-9">semiconductors</a>, <a target="_blank" href="https://www.businessinsider.com/china-crushing-us-america-battle-energy-evs-batteries-tech-war-2023-5">batteries</a>, and <a target="_blank" href="https://www.businessinsider.com/china-xi-jinping-crush-tesla-elon-musk-american-ev-industry-2024-2">electric cars</a> — and the tit for tat will be especially costly for less diversified economies. Germany's dependence on manufacturing, for example, places its most essential industries on a collision course with China's ambitions. And while the United States is well positioned to weather the storm, that doesn't mean it won't be rough. The world has never faced a challenge like the skyrocketing flow of exports from China up and down the value chain. It's a dynamic that threatens to imbalance international trade by flooding the market with cheap goods of all kinds. <a target="_blank" href="https://www.businessinsider.com/china-shock-explainer-us-economy-trade-dumping-supply-glut-yellen-2024-4">China Shock 2.0</a> "will not go down easily," Quinlan tells me.For over a decade we have become accustomed to the economy working a certain way — if this, then that. As a new supercycle emerges, investors, businesses, and governments that structured themselves around the old model may experience acute shocks. To succeed in this unfamiliar new world, they'll have to adjust their expectations and find ways to harness the supercycle's opportunities. It's the economic equivalent of natural selection: As the economy evolves, those who adapt will be most likely to survive. The days of economic growth are back. The future belongs to those who can grow with it.<a target="_blank" rel="" href="https://www.businessinsider.com/author/linette-lopez">Linette Lopez</a> is a senior correspondent at Business Insider.

America is entering a new 'economic supercycle'

Google's new report on <keyword id="19904566" type="General" weightage="20" keywordseo="artificial-intelligence" source="keywords">artificial intelligence</keyword> (AI) emphasizes responsible AI development and suggests recommendations for policymakers, companies, and civil society. The report titled "An AI Opportunity Agenda for India" outlines how artificial intelligence can drive <keyword id="19900794" type="General" weightage="20" keywordseo="economic-growth" source="keywords">economic growth</keyword>, social progress and global leadership for the nation. The report says India with its rapidly growing economy, outstanding tech talent, young demography and vibrant start-up ecosystem, is poised to reap the immense benefits of artificial intelligence. A comprehensive and responsible approach to AI can unlock significant economic growth and societal progress in India. "The potential economic impact of AI in India is substantial - reports estimate that at least INR 33.8 lakh crore of economic value from <keyword id="20037918" type="General" weightage="100" keywordseo="AI-adoption" source="keywords">AI adoption</keyword> can be achieved in India in 2030. While these achievements signify a promising beginning, unlocking the full potential of AI hinges on the strategic decisions we make today," says a Google's press release. The report suggests that to maximize the AI opportunity for India collaborative efforts are needed across government, industry, and civil society. They need to prioritise three key areas which include investments in infrastructure and innovation, building human capital and an AI-powered workforce and promoting wide adoption and universal accessibility. AI is already addressing some of the most pressing challenges like revolutionizing farming practices and improving <keyword id="20646060" type="General" weightage="20" keywordseo="healthcare-access" source="keywords">healthcare access</keyword>. The <keyword id="20214323" type="General" weightage="20" keywordseo="agriculture-sector" source="keywords">agriculture sector</keyword> is getting the benefits of AI through minimizing climate risks, optimizing productivity and sustainability, and providing access to real-time crop pricing information and early warning of potential crop threats. Many <keyword id="23569666" type="General" weightage="20" keywordseo="AI-powered-platforms" source="keywords">AI-powered platforms</keyword> are empowering farmers to boost crop yields and encourage sustainable practices. In the healthcare sector, AI is being used for better diagnosis, bigger access, and personalized care, especially for underserved communities. Google has partnered with <keyword id="23569667" type="General" weightage="20" keywordseo="ARMMAN" source="keywords" meta.keywordsubtype="org" meta.entityname="ARMMAN" meta.hostid="261" meta.entityid="ARMMAN">ARMMAN</keyword> to use AI to identify women at risk of dropping out of their health information program, allowing for personalized interventions to improve maternal health outcomes. ARMAAN seeks to address the pervasive systemic problems underlying maternal and child mortality and morbidity in India.

AI adoption can unleash Rs 33.8 lakh crore of economic benefit to India in 2030: Google Report

<ul class="summary-list"><li>US real GDP grew at an annualized rate of 2.8% in the third quarter of this year, less than the forecast.</li><li>This means the economy is still growing healthily — even if it was weaker than expected.</li></ul>In the third quarter, US economic growth fell short of expectations but remained strong.A news release from the Bureau of Economic Analysis said real gross domestic product rose at an annualized rate of 2.8% in the third quarter of the year, less than the <a target="_blank" class="" href="https://www.investing.com/economic-calendar/gdp-375">forecast</a> of 3%."The increase in real GDP primarily reflected increases in consumer spending, exports, and federal government spending," the news release said. Consumer spending was a particular highlight, with personal consumption expenditures growing at a strong 3.7% annualized rate.Real GDP rose at an annualized rate of 1.6% in the first quarter and 3% in the second quarter.The weaker-than-expected GDP growth doesn't necessarily mean the US is heading toward a recession. There's still a lot of strength in the economy. Layoffs remain low and inflation-adjusted wage and income growth are back to their strong pre-pandemic trends.The presidential election is less than a week away, and <a target="_blank" class="" href="https://www.businessinsider.com/what-is-going-on-with-economy-jobs-inflation-election-voting-2024-10">the economy is top of mind for voters</a>. Additionally, the Federal Reserve will announce its next interest-rate decision on November 7. The Fed has several recent data releases, in addition to the upcoming jobs report on Friday, to help it determine whether or how much it will cut rates. Before the GDP report, <a target="_blank" class="" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">traders</a> expected the central bank would cut rates by 25 basis points in November. That was still the case after the report, with a probability of around 96%.The US economy has generally been strong since recovering from the 2020 Covid recession, and the new GDP reading adds to this. David Kelly, chief global strategist at J.P. Morgan Asset Management, said in a note that "in an economy that has averaged 2.1% growth since the start of this century," adding that anything between 2.5% and 4% "shows a continuation of above-trend real growth."Wednesday's reading is the advance estimate based on early data collected by the Commerce Department, so it could change as more information rolls in. Hurricane Helene in September and Hurricane Milton in October affecting businesses could impact GDP in the third or fourth quarter; it may mean larger revisions upward or downward.Mark Hamrick, a senior economic analyst at Bankrate, told Business Insider earlier this month that because economic data will likely be "foggy" because of issues like strikes and recent hurricanes, "we may have to employ a little bit of patience to get through the end of the year and hope for better visibility about economic data."This is a developing story. Please check back for updates.

US economic growth came in slightly under expectations but consumer spending remains strong

<ul class="summary-list"><li>After playing to the coasts, Hollywood is leaning toward faith and family-based shows and films.</li><li>Amazon and Netflix recently announced deals for faith-based content.</li></ul>This holiday season, <a target="_blank" href="https://www.businessinsider.com/amazon-studios-expansion-challenges-jennifer-salke-citadel-lord-rings-2023-2">Amazon MGM Studios</a> is set to release "House of David," a series with an epic production and global aspirations to match the breadth of its biblical source material. The Prime Video series will be the first to come out of <a target="_blank" class="" href="https://www.businessinsider.com/amazon">Amazon's</a> deal with The Wonder Project, a Christian-focused production company, for faith-based films and TV shows."We are very excited about the scope, scale and storytelling involved with 'House of David' and look forward to sharing this epic and many others with our global Prime Video customers," Vernon Sanders, head of television for Amazon MGM Studios, <a target="_blank" href="https://variety.com/2024/tv/news/amazon-wonder-project-faith-based-films-shows-house-of-david-1235875596/">said</a> in announcing the deal.After playing to the coasts with shows that embraced progressive themes, Hollywood is <a target="_blank" href="https://www.businessinsider.com/hollywood-risk-averse-new-shows-tv-big-stars-snubbed-2024-9">leaning into broadly appealing fare</a>. That shift has included a combination of undeniably faith-based, conservative-themed, and family-aimed entertainment, agents, producers, and industry experts say.It's a long way from Amazon's early days in creating original entertainment that put it on the map, like "Transparent," which came out in 2013 as gender issues were on the political agenda. Studios head <a target="_blank" href="https://www.businessinsider.com/amazon-studios-expansion-challenges-jennifer-salke-citadel-lord-rings-2023-2">Jennifer Salke, who came on board in 2018, said she was looking for</a> "curated" overbroad shows and pledged to seek out projects with diverse talent.<div type="image" title="yellowstone" height="1368" width="2132" msid="115016601" hostid="261" sizebytes="40586"></div>"They're heartland-curious," Nick Barnes, UTA's Nashville-based head of its Heartland division, said of the streamers. "It's, 'What's our Yellowstone?' I see cowboy boots every time I go to Los Angeles now." The Kevin Costner-starring Western and soapy family drama has become one of TV's most popular scripted shows.Disney CEO Bob Iger <a target="_blank" href="https://www.businessinsider.com/bob-iger-woke-disney-is-over-not-silence-his-critics-2024-4">reversed</a> the company's proud embrace of diverse themes after getting hammered by critics on the right, trading movies like "Zootopia," which dealt with prejudice, for this year's "Deadpool &amp; Wolverine."Netflix, off the success of "Virgin River," a small-town romance that was just renewed for a seventh season, recently announced a deal with Tyler Perry and DeVon Franklin to make faith-based films starting with "R&amp;B," a take on the biblical love story of Ruth and Boaz set in the modern-day American South. It also just acquired "Mary," a biblical epic starring Anthony Hopkins.Netflix has also been taking a page from the "Yellowstone" playbook with an upcoming bull-rider series called "Ragdoll," starring country superstar (and "Yellowstone" actor) Tim McGraw. Also on tap is "American Primeval," a miniseries it <a target="_blank" class="" href="https://www.netflix.com/tudum/articles/american-primeval-cast-taylor-kitsch">describes</a> as a "raw, adventurous exploration of the birth of the American West."<h2 id="0f8424da-4da9-47f8-9d19-696de395a53e">Economics fuel a cultural shift</h2>The rightward tilt has a lot to do with fear and economics.Facing big financial pressure, studios and streamers are looking to make entertainment for the most subscribers at the lowest cost possible as the <a target="_blank" class="" href="https://www.businessinsider.com/comcast-split-cable-tv-cnbc-bravo-nbc-peacock-2024-10">cable business wanes</a> and <a target="_blank" class="" href="https://www.businessinsider.com/streaming-strategy-spend-billions-wrong-netflix-disney-paramount-warner-bros-2023-2">streaming profits have been rare</a>. In this newly conservative greenlighting era, buyers are looking around for sure things and pockets of audiences where there's opportunity.Faith-based and family-oriented shows can be made relatively cheaply, without big-name stars, and have the potential to travel globally. Streamers are all in the <a target="_blank" class="" href="https://www.businessinsider.com/amazon-prime-video-preview-shake-up-tv-ad-marketplace-2024-1">ads business now</a>, and advertisers like entertaining, non-polarizing content geared toward everyone in the household.<div type="image" title="Jim Caviezel in a brown shirt" height="675" width="1200" msid="115016606" hostid="261" sizebytes="45878"></div>The studios and streamers have also seen breakout successes of Christian-themed titles. Angel Studios-distributed "The Chosen," a 2017 TV drama about Jesus and his apostles from filmmaker Dallas Jenkins, is considered one of the most successful crowdfunded entertainment projects, <a target="_blank" href="https://www.bbc.com/culture/article/20240124-the-chosen-the-christian-funded-hit-about-jesus-taking-the-us-by-storm">raising nearly $100 million</a>.Angel Studios followed it up with "Sound of Freedom," a 2023 thriller about child trafficking that wasn't about religion per se but was championed by conservatives and churchgoers to become one of the most successful indie films with a $180 million domestic box office. "Jesus Revolution," a 2023 movie by Wonder Project founder Jon Erwin about hippie Christians in California, grossed about $54 million on a $15 million budget.UTA's Barnes said that successes like these have encouraged top Christian filmmakers, who so far have largely operated outside the major studio system, to start talking about making TV series for distribution by major streamers, where the real eyeballs are.Hollywood's shift doesn't surprise historians. For much of TV history, programming was a mass-audience proposition, family-oriented and conservative. Networks, guided by their standards divisions, programmed to reach as many people as possible and avoid turning off advertisers. TV couples slept in separate beds and faith was a big genre (1977's "Jesus of Nazareth" and "Touched by an Angel," which ran from 1994 to 2003, for example).Cable and streaming gradually split those audiences into niches. Now streamers are back to serving everyone in the scramble to survive.Take Netflix. Its growth <a target="_blank" href="https://www.businessinsider.com/netflix-questions-from-wall-street-growth-ads-future-earnings-2024-10">has slowed</a>, which is forcing it to seek out new audiences at home and abroad while selling ads and cracking down on password sharing, said Robert Thompson, a professor at Syracuse University's Newhouse School of Public Communications and director of its Bleier Center for Television and Popular Culture."Conservative, faith-based, family, is not a bad place to look," Thompson said. "There's a big audience that likes faith-based and family programming — it's affirmative and not critical in lots of ways." Not to mention the Bible offers a rich mine of storytelling. "It's a rip-roaring set of good stories — Exodus is one of the most rollicking stories out there."<div type="image" title="Hilary Swank at the Lionsgate's &quot;Ordinary Angels&quot; New York Premiere" height="683" width="1024" msid="115016609" hostid="261" sizebytes="47284"></div>Faith-based can mean overtly Christian, but today's suppliers are also finding a market for premium storytelling that people in Hollywood call faith-adjacent. That's helped them to attract mainstream backing and stars like Hilary Swank, who features in "Ordinary Angels," a 2024 inspirational drama from Kingdom Story Co., a production company specializing in Christian films. The Wonder Project raised $75 million from backers, including Lionsgate, UTA, and horror producer Jason Blum for its faith-centric ambitions. Lionsgate has long had a filmmaking deal with Kingdom Story Co.Still, for all the interest in serving the flyover states, proponents say change has been slow.Studios and streamers want to serve rural America but are reluctant to touch something they consider too religious or conservative. The decision-makers are still largely bicoastal and don't really know the audience or agree on what a "heartland" or a "family" show is. ("Modern Family" may be, but is gothy "Wednesday?")To those in this world, heartland means shows about universal values, neighbors helping neighbors, and offering hope. For others, it may connote far-right conservatism, an association many in Hollywood shun (<a target="_blank" href="https://www.theatlantic.com/magazine/archive/2022/12/yellowstone-tv-series-taylor-sheridan/671897/">See: Taylor Sheridan</a>). "The far right has hijacked Christianity, so what constitutes family-based programming would mean very different things, depending on who you talk to," Thompson said."They know faith and family and 'Yellowstone' is important, But the mandates come and go without a lot of acquisitions," Barnes said of entertainment buyers. "While they understand they need this audience, they don't understand them."Faced with uncertainty, it's easier and safer for studios and streamers to fall back on familiar franchises. "They would much rather make 'Transformers 7' than 'The Blind Side,'" quipped a Hollywood agent who spoke on condition of anonymity to protect relationships with the studios and networks.According to research firm Ampere Analysis, the number of "faith and spirituality" content hours on the major US streamers roughly doubled over the past year, to about 500, but is still under 1% of their total catalog hours.That could change as <a target="_blank" href="https://www.businessinsider.com/hollywood-losing-dominance-tv-movies-employment-chart-2024-10">more people leave Los Angeles</a> for states like Georgia, Texas, and Tennessee, which have growing film and TV production hubs."The more people come and see that the big, bad scary heartland and the South are not what they think it is, the friendlier they are to tell the story of these places," Barnes said.

Hollywood goes conservative as an economic shift fuels a turn toward faith and family-based shows

<ul class="summary-list"><li>US stocks soared as Trump won the 2024 election, boosting market confidence.</li><li>Large bank stocks and Trump Media shares surged, anticipating looser regulations.</li></ul>Markets soared on Wednesday as anxieties around a potential contested election outcome and days of uncertainty were dispelled by Donald Trump's decisive victory over Kamala Harris. US stocks rocketed higher after Trump became the first president in over a century to win a second term after losing a prior reelection. All three benchmark indexes rose in early-morning trading, with the Dow Jones Industrial Average climbing over 1,200 points, marking its biggest single-day increase in two years.Assets associated with the so-called <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/trump-trade-us-presidential-election-dollar-treasuries-stocks-crypto-djt-2024-11">Trump Trade</a> rallied as investors readied for a shift in the economic and regulatory climate.<a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/bank-stocks-donald-trump-victory-reelection-wall-street-outlook-regulation-2024-11">Bank stocks</a>, which are expected to benefit under looser regulation in a second Trump term, climbed higher. Shares of Wells Fargo rose 9%, while Citigroup shares rose 8% early Wednesday. The SPDR S&amp;P Bank exchange-traded fund, which tracks banks across various sub-industries, also climbed 8%.<a target="_blank" class="" href="https://markets.businessinsider.com/stocks/djt-stock?utm_medium=ingest&amp;utm_source=markets">Trump Media and Technology Group</a> shares, which have been on <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/trump-media-djt-truth-social-election-madison-square-garden-rally-2024-10?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">roller coaster</a> in the weeks leading up to the election, rose more than 30%.Tesla stock shot up more than 14% in early trading. CEO Elon Musk was among Trump's most vocal backers during the campaign and has been tipped as a potential member of the cabinet overseeing government efficiencyBitcoin hit a record high above $75,000 before paring its gains to around $73,807 in early-morning trading. Other crypto trading-related stocks, like Coinbase and Robinhood, were up as much as 12%. Trump styled himself as the "crypto president" while campaigning, with markets hopeful that his administration would lower guardrails and take a lighter approach to regulating the space compared to President Joe Biden's administration. <a target="_blank" class="" href="https://www.businessinsider.com/trump-bitcoin-stance-2024-7?utm_medium=ingest&amp;utm_source=markets&amp;_gl=1*1fbnl5f*_ga*OTI1ODIwOTQ2LjE3MTYzOTg2NjU.*_ga_E21CV80ZCZ*MTczMDg5OTg5MC41MjYuMS4xNzMwOTAxNzg5LjI4LjAuMA..v">voiced support</a> for during his campaignBond yields surged, a sign markets are anticipating higher inflation and higher interest rates as a reult of Trump's policies. The yield on the 10-year US Treasury climbed 18 basis points to 4.477%, the highest level since July.Investors could be looking into a volatile few trading days, though most forecasters expect big post-election swings to eventually fizzle."One of our core beliefs about elections and markets is that the latter must endure some temporary repricing around this event every few years, but that these dislocations have tended to be temporary in nature," Paul Christopher, Wells Fargo's head of global investment strategy, wrote in a note.Here's what else is going on:<ul><li>A <a target="_blank" class="" href="https://www.businessinsider.com/trump-win-fed-pause-rate-cuts-easing-jpmorgan-david-kelly-2024-11?_gl=1*ysey2j*_ga*OTI1ODIwOTQ2LjE3MTYzOTg2NjU.*_ga_E21CV80ZCZ*MTczMDg5OTg5MC41MjYuMS4xNzMwOTAyNjE5LjU0LjAuMA..">Trump win could prompt the Fed to hit pause on its rate cutting cycle</a>, according to JPMorgan's strategy chief.</li><li>The <a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/us-dollar-most-important-election-indicator-harris-trump-president-dxy-2024-11">US dollar may be the most important asset</a> to watch after the election results.</li><li>Here's how your <a target="_blank" class="" href="https://www.businessinsider.com/election-preview-consumer-outlook-how-trump-harris-housing-taxes-2024-11?_gl=1*ysey2j*_ga*OTI1ODIwOTQ2LjE3MTYzOTg2NjU.*_ga_E21CV80ZCZ*MTczMDg5OTg5MC41MjYuMS4xNzMwOTAyNjE5LjU0LjAuMA..">wallet could be impacted</a> by the results of the election.</li><li>The <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-rally-pullback-election-morgan-stanley-mike-wilson-2024-11">S&amp;P 500 could surge 5% by year-end</a> before fresh uncertainty sparks a pullback in 2025, according to Morgan Stanley's CIO.</li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" rel="" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">West Texas Intermediate</a> crude oil dropped 2.58% to $70.13 a barrel. <a target="_blank" rel="" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, was lower by 2.52% to $73.63 a barrel.</li><li><a target="_blank" rel="" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets">Gold</a> slumped 2.88% to $2,664.83 an ounce.</li><li>The 10-year Treasury yield climbed 18 basis points to 4.477%.</li><li><a target="_blank" rel="" href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> jumped 7.15% to $73,807.</li></ul>

Dow soars 1,300 points, yields surge as decisive Donald Trump win reverberates through markets

The <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> announced the decision of the newly formed six-member MPC (<keyword id="19913109" type="General" weightage="20" keywordseo="Monetary-Policy-Committee" source="keywords">Monetary Policy Committee</keyword>) today, following the conclusion of the three-day meeting, which began on October 7, 2024. Treading along expected lines, RBI rate-setting panel left the repo rate unchanged at 6.5% for the 10th consecutive time, in its 51st meeting today. The decision was made by a majority, with 5 out of 6 members voting for leaving the rate unchanged. This is the fourth bi-monthly monetary policy review for FY25, and the first since three external members were appointed to the panel earlier this month. The tenure of the previous three members had come to an end on October 4, 2024. While the outgoing members include Ashima Goyal (emeritus professor, Indira Gandhi Institute of Development Research), Shashanka Bhide (honorary senior advisor, National Council of Applied Economic Research); and Jayanth R. Varma(professor, Indian Institute of Management, Ahmedabad), the income members are Ram Singh (Director, Delhi School of Economics), Saugata Bhattacharya, an economist; and Nagesh Kumar (Director and chief executive, Institute for Studies in Industrial Development). <h2>Wait and Watch </h2>RBI also changed its policy stance to neutral, while remaining committed to growth and bringing down inflation to its target of 4%. This means that at present, the bank is not inclined to either increase or decrease the interest rates, but will take a call depending on macroeconomic conditions and prevailing factors. "Taking all these factors into consideration, the real GDP growth for 2024-25 is projected at 7.2%, with Q2 at 7%, Q3 at 7.4% and Q4 at 7.4%", he said. As for inflation, Das highlighted that headline inflation had softened significantly in July and August and even food inflation experienced a certain degree of correction during these two months. Keeping this in mind, CPI inflation for 2024-25 i.e. current year is projected at 4.5%, with Q2 at 4.1%, Q3 at 4.8% and Q4 at 4.2%. CPI for first quarter of next financial year i.e. 2025-26 is estimated at 4.3%. "It's with a lot of effort that inflation horse has been brought to the stable, i.e. closer to the target and within the tolerance span, compared to its place or heightened levels two years ago. We have to be very careful about opening the gate, as the horse may simply hold again. We must keep the horse in tight leash, so that we do not lose control", Das added. Most economists had anticipated a change in the central bank's current policy stance of 'withdrawal of accommodation'. This policy stand indicates that any interest rate cuts are presently off the table. However, given the ongoing geopolitical crisis and Fed's jumbo rate cut by 50-basis points last month, RBI may bring about a cut in interest rates, sooner than later. However, since food inflation remains high at 5.42% as of July 2024, experts had also estimated that now might not have been a good time for RBI to bring down interest rates. Moreover, PMI (purchase managers index) indices, which help in gauging the health of manufacturing and service sectors in the country, presently stand at a multi-month low, and even the core sector output is witnessing a contraction after 42 straight months. As Suman Chowdhury, Executive Director &amp; Chief Economist, Acuité Ratings &amp; Research had highlighted, the current circumstances are not really conducive for RBI to opt for any affirmation action towards an easier monetary policy. "While the fear of the inflation “elephant” may have subsided with the CPI headline print well within 4.0% over the last two months and a favorable monsoon, the concerns around the stability of food inflation still linger among policy makers. The RBI may wait till December 2024 or February 2025 to make a rat cut, he continued. <h2>Housing sector rejoices</h2>From the point of view of homebuyers, the relatively affordable home loan interest rate regime will continue at a critical time for the Indian housing market - the festive season - amid rising housing prices and tapered sales. Q3 2024 saw average housing prices rise by a cumulative 23% in the top 7 cities even as average prices in these markets collectively rose to approximately Rs 8,390 per sq. ft. by Q3 2024-end, from Rs 6,800 per sq. ft. in Q3 2023. "The unchanged home loan rates are much-needed demand support in the ongoing festive quarter. We are expecting faster sales momentum in Q4 2024 when compared to the preceding quarter. This year's festive quarter may see similar demand to that seen in this period a year ago, if not higher. Over 1.27 lakh units were sold across the top 7 cities back in Q4 2023. Unchanged interest rates will play and important role in achieving and maintaining this momentum", says Anuj Puri, Chairman - ANAROCK Group

RBIs MPC meet concludes today: Repo rate left unchanged at 6.5%

<ul><li>The <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> will conclude the three-day <keyword id="19913109" type="General" weightage="20" keywordseo="Monetary-Policy-Committee" source="keywords">Monetary Policy Committee</keyword> (<keyword id="19918491" type="General" weightage="20" keywordseo="MPC" source="keywords">MPC</keyword>) meeting today.</li><li>The central bank is expected to announce its decision on policy rates.</li><li>The <keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword> has maintained the <keyword id="20094323" type="General" weightage="100" keywordseo="repo-rate" source="keywords">repo rate</keyword> at 6.50% for the past nine meetings.</li></ul>The Reserve Bank of India (RBI) is set to conclude the three-day Monetary Policy Committee (MPC) meeting today, with Governor <keyword id="19913110" type="General" weightage="20" keywordseo="Shaktikanta-Das" source="keywords">Shaktikanta Das</keyword> expected to announce the central bank's decision on policy rates. The meeting, which <a href="https://www.businessinsider.in/finance/news/rbis-monetary-policy-committee-meeting-begins-today-announcement-on-october-9/articleshow/113999887.cms">began</a> on October 7, has garnered significant attention, as the RBI has maintained the repo rate at 6.50% for the past nine meetings. The repo rate has remained steady since the RBI adopted a cautious stance to balance inflation control and <keyword id="19900794" type="General" weightage="20" keywordseo="economic-growth" source="keywords">economic growth</keyword>. Key factors that the MPC is weighing include persistent inflationary pressures, particularly in food prices, as well as global economic uncertainties. According to data from the Ministry of Statistics &amp; Programme Implementation, while All India Consumer Price Index (CPI) inflation moderated to 3.65% in August--within the RBI's target band of 2-6%. <keyword id="19999654" type="General" weightage="20" keywordseo="food-inflation" source="keywords">Food inflation</keyword> remains elevated at 5.65%, above the central bank's medium-term target of 4%. This, coupled with rising global crude oil prices due to geopolitical tensions in West Asia, has intensified concerns over inflation. Despite these challenges, the RBI has so far opted for a status quo on the repo rate, aiming to foster economic recovery after the pandemic. However, today's announcement will be closely watched to see if the central bank shifts its stance, especially given the external pressures and uncertainties surrounding global markets. Economists, however, have noted that the RBI will not make any changes in its policy stance before December. "With the focus on taming headline inflation, the RBI is likely to hold the rates although the core inflation is within the limit. It is possible the RBI may shift to the neutral stand" said M Govind Rao, Member, of the Fourteenth Finance Commission and former Director, of the National Institute of Public Finance and Policy. On September 18, the US Federal Reserve announced a steep 50 basis points interest cut in its review meeting. US Fed announced the rate cuts after holding interest rates steady for eight straight meetings. "In this overarching macroeconomic setting of heightened geopolitical tensions, core inflation inching upwards, oil price volatility, and high food inflation, we anticipate a change in the RBI's policy stance from "withdrawal of accommodation" to "neutral" at its forthcoming MPC meeting on October 9, 2024. However, we do not see any rate action coming and the benchmark interest rates may not undergo any change" said Manoranjan Sharma, Chief Economist, Infomerics Ratings. Earlier this month the central government appointed three new members to the monetary policy committee. The MPC comprises three members from the RBI and three external members appointed by the Central Government. With inputs from ANI. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/byd-emax-7-electric-mpv-launched-in-india-starting-at-26-9-lakh/slidelist/114046121.cms">BYD eMax 7 electric MPV launched in India starting at ₹26.9 lakh</a> <a href="https://www.businessinsider.in/personal-finance/news/heres-how-a-reddit-user-was-able-to-get-an-iphone-16-at-under-27000/articleshow/114035179.cms">Here’s how a Reddit user was able to get an iPhone 16 at under ₹27,000</a> <a href="https://www.businessinsider.in/stock-market/news/hyundai-swiggy-ather-upcoming-large-ipos-in-india/slidelist/114014140.cms">Hyundai To Swiggy: Everyone wants to cash in on the IPO bonanza</a>

RBI MPC announcement today: Rates unlikely to change, RBI may change stance to neutral

<ul class="summary-list"><li>Tracy Young said she couldn't be a CEO and a mother without reproductive rights.</li><li>Deciding if and when to have children impacts women's ability to be in the workforce.</li></ul>It might be common sense to many women, but Tracy Young decided to say it out loud."As both a mother and CEO of two companies, I've experienced firsthand how crucial reproductive rights have been to my journey," she wrote in a post on LinkedIn last month.Young, who studied construction engineering, has cofounded and served as the CEO of two startups: Plan Grid, a construction software company, and TigerEye, an AI analyst for go-to-market teams."It's surprising to me that in 2024, these are the conversations we are having, and part of the reason why I wrote that essay is because there's so much debate," Young told Business Insider. "I can guarantee you that I would not have been able to see through this journey of being a founder and CEO had it not been for the reproductive rights I was given."Young's story highlights what's at risk for women who don't have access to reproductive care, and how the issue can impact not only women in the workplace but the economy at large.Things like birth control to abortion access have been "game changers" for women's ability to participate in the workforce, said Alina Salganicoff, the senior vice president and director of the Women's Health Policy Program at KFF, a health policy research organization."Being able to control whether and when you have a child makes a huge difference in your life, your personal life, as well as the professional options and the education that you can pursue," Salganicoff told BI.The issue is now front and center two weeks from a presidential election. Several states will have <a target="_blank" class="" href="https://www.businessinsider.com/states-putting-abortion-access-on-ballot-2024-8">abortion access on the ballot</a>.It's largely been a winning <a target="_blank" class="" href="https://www.businessinsider.com/democrats-arent-shying-away-from-abortion-talk-this-election-2024-6">issue for Democrats</a> since the Supreme Court <a target="_blank" class="" href="https://www.businessinsider.com/supreme-court-abortion-decision-final-ruling-scotus-roe-v-wade-2022-6">overturned Roe v. Wade</a> in 2022, ending the federal legalization of abortion. Even states that typically lean conservative have seen <a target="_blank" class="" href="https://www.businessinsider.com/abortion-rights-ohio-virginia-kentucky-elections-gop-roe-v-wade-2023-11">votes in favor of legalizing abortion</a>.<h2 id="4f684b4f-9934-42e2-b8a3-86717fb3c43c">How reproductive care helped Young's career</h2>Young knew that she wanted to be a parent, but the timing wasn't right when she was in college, working on a construction site, or building a company, she said."Birth control helped me time pregnancy for when I was ready," Young said. "When I was building a startup for the first time and leading it as CEO for the first time, doing the biggest job I've ever done before, it was just not the right time for me."Young and her husband had their first child in 2018, after Young said she had "matured as a CEO and as a leader.""I just felt more competent," she said. "At that point, it felt right."Access to reproductive healthcare made the difference again for Young when she experienced a miscarriage at work during a subsequent pregnancy. Young said her doctors in California gave her misoprostol, one of two common drugs doctors use to <a target="_blank" class="" href="https://www.businessinsider.com/midwife-language-procedures-miscarriage-or-termination-can-be-the-same-2022-6">manage abortions or miscarriages</a>. She also had a surgical procedure."There was no hesitation for the doctors to give me the treatment that they knew I needed," Young said. "Because of the Supreme Court's decision to overturn Roe v. Wade, many states now have heavy restrictions on prescribing the drugs that were given to me as a treatment."More than half of US states now have restrictions on when during the gestational period an abortion can legally be performed, and 13 states have total abortion bans that impede access to care with few exceptions, according to the Guttmacher Institute, a reproductive health research and policy nonprofit organization.Abortion denial has downstream effects on women's economic potential, Salganicoff said, impacting everything from their education level to their ability to advance in their careers.For example, the ongoing "Turnaway Study" from the University of California, San Francisco, found that denying abortion care to women increases their likelihood of experiencing poverty, joblessness, and other economic hardships. Similarly, a recently published study from the Georgetown Center on Poverty and Inequality found that restrictions on abortion access "pose significant risks to the well-being and economic security of women," especially low-income women.The result harms women and the world at large, Young said."There's a lot of problems in the world. We probably want half of the population's brains helping solve these really hard problems," Young said. "I do."

How access to reproductive care shaped a founder's career, highlighting its importance as an economic driver

On September 18, 2024, the US <keyword id="19900043" type="General" weightage="20" keywordseo="fed" source="keywords">Fed</keyword> delivered a jumbo-sized surprise to the global economy. Not only did they trim their interest rates by a massive 50 basis points to bring their yields down to 5%, but also hinted at further rate cuts in the upcoming months. This move from the fed and several other central banks globally had pushed expectations high for a similar rate slash closer home, from the <keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword> this month. But governor <keyword id="19913110" type="General" weightage="20" keywordseo="shaktikanta-das" source="keywords">Shaktikanta Das</keyword>, in a “picture abhi baaki hai” moment, decided to hold the repo rates here steady, leaving them unchanged at 6.5% for the record 10th straight time. Although, he did tinker with the policy stand, changing it from “rate cuts are absolutely off the table” to a more accommodating “we’re okay with bringing down the rates, if needed”. This, rather neutral, stance from India’s financial custodian sparked hopes for a rate cut in December this year. However, the stubborn inflation levels in September have again dented such hopes. As consumers, you may be wondering what all the hullabaloo this is about, since it hardly makes a difference to your regular financial routine. Well, the majority of both economic growth and inflation is closely connected to this policy stance from the central bank and it does have a rather indirect effect on both our earnings and spending. But more directly, it would have clear implications for those looking to own a house. Even the slightest modification of interest rates, or the lack of it, influences the <keyword id="19916018" type="General" weightage="20" keywordseo="emi" source="keywords">EMI</keyword> you pay significantly. So, all aspiring homebuyers, is this the right time to take out a loan and buy a house? Can you expect a rate cut anytime soon, and what will that mean for your home-owning dreams? We lay it out. <h2>What’s the connection?</h2>You see, buying a house is no small feat, at least financially. The task becomes even more herculean if you are scouting for your own roof in cities like Delhi, Noida, Bangalore or Mumbai where, as Circuit from Munnabhai says, “room shuru hote hi khatam ho jata hai”. Naturally, you’ll have to take a <keyword id="6354730" type="General" weightage="100" keywordseo="home-loan" source="Orion">home loan</keyword> from the bank. Don’t be mistaken, the bank won't give you a loan that covers 100% of the value of the property you want to own. Rather, your loan amount will be equivalent to a certain percentage of the property’s total value. RBI’s guidelines on this are pretty clear: <ul><li>If your loan amount is up to Rs 30 lakh, you can get a loan worth 90% of the property’s value.</li></ul><ul><li>If the loan amount is between Rs 30 lakh and Rs 75 lakh, you are eligible for a loan worth 80% of the property’s value.</li><li>If you are taking a loan of more than Rs 75 lakh, your loan amount will be equivalent to 70% of the property’s value.</li></ul>Now assuming that you have the money, it's all about paying back the principal amount, but not without a little (read hefty) interest added on top. See, when you’re taking a home loan, you are actually signing up for a long-term, even multi-decadal financial commitment, which will unfailingly present itself to your bank accounts and finances every single month, in the form of EMIs, or equated monthly instalments). When you take a home loan, you can choose to pay the interest in two ways (talk about choices!). One is that you decide to keep a fixed rate of interest throughout the tenure of your home loan. So, if you opt for a 25-year fixed-rate home loan at the rate of 8.8% p.a., you’ll have to pay interest at this rate for the next 25 years, till your entire loan is paid off. Yes, you can go backsies and switch to a floating-rate home loan by paying a fee. Floating, as the name suggests, means that your interest rate is not set in stone. But starting October 2019, when it comes to a floating interest rate home loan, your payable interest and EMIs are directly impacted by any changes in <keyword id="20094323" type="General" weightage="20" keywordseo="repo-rate" source="keywords">repo rate</keyword>, which were left unchanged by RBI this time around. Why are these two so chummy, you might ask. Well, home loan interest rates are a sum of two things: <ol><li>Repo Rate (the rate at which RBI lends money to banks)</li><li>Operational cost + margins</li></ol>Any plus or minus in this equation would send your home loan interests tanking, or skyrocketing. Vivek Iyer, Partner, Grant Thornton Bharat explains that any change in the repo rates impacts the cost of funds and thereby the home loan interest rates. “When the interest rates are expected to reduce, the corresponding impact will be in the form of a reduced EMI. Home loan borrowers should always try to borrow at a floating rate when interest rates are expected to reduce and at a fixed rate when the interest rates are expected to increase. This minimizes the outflow in the form of EMIs that the home loan borrowers will experience”, he continues. So, no change in repo rates means no change in your home loan interest payout and no financial relief whatsoever. A rate cut, which most experts are anticipating will start this December, would mean your EMI payments come down, and your wallet might save a little more. But there’s also a chance of an UNO reverse happening. In case RBI is in the mood to hike the interest, your home loan EMIs might end up taking more from your pockets. Consider this. You took a floating interest rate home loan worth Rs 50 lakh in January 2022 at 8% p.a., for a period of 20 years. This brings your total monthly EMI to Rs Rs 41,822. But, as luck would (or won't) have it, RBI raised the interest rate by 250 basis points between May 2022 and February 2023, bringing it to its current status of 6.5%. Some back-of-the-envelope calculations suggest that now, your home loan interest payout will also rise by a hefty 2.5%, taking the total to 10.5%. In other words, you’ll have to dish out Rs 49,919 per month as EMI. Now, won't you heave a sigh of relief if the RBI were to bring down the interest rate by say, even 50 basis points, or 0.5%? Agreed, your EMI will come down just marginally, to Rs 48,251. But look at this over a 20-year period, and you’ll see how big the difference is. <h2>Are rates set to change anytime soon?</h2>Generally, RBI hikes the repo rates if it sees inflation spiralling out of control. Then, in a bid to reduce consumer spending, it raises interest rates to make borrowing expensive. But when the apex bank sees sluggish consumption in the economy, inflation in control and wants to boost spending, it slashes down on interest rates, making it more lucrative for people to borrow. As of now, most experts are not anticipating any changes in the interest rates anytime soon. This means home loans are not getting cheaper anytime soon. The CPI data, which came out yesterday, saw inflation rise to 5.49% in September, compared to 3.65% last month. Food and beverage prices jumped to a four-month high of 8.36% in September, as opposed to a 5.3% rise in August. So a rate cut seems a no-go at the moment! Apurva Sheth, Head of Market Perspectives and Research, SAMCO Securities explains that the RBI had probably expected a hardening of inflation and that's why it chose to hold on to the rates in the monetary policy announcement last week. “Now, it seems that RBI will take a cautious stance going ahead and will not be in a hurry into rate cuts like its global peers”, he added. In all this, one thing is clear, in the grand movie of the Indian economy, the RBI has chosen stability over drama. And just like in every good Bollywood film, we're left wondering what twist the sequel will bring. Until then, it might be “The End" for rate cuts, but the show must go on for the Indian economy!

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