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The <keyword id="20613906" type="General" weightage="100" keywordseo="Economic-Survey" source="keywords">Economic Survey</keyword> presented by <keyword id="20426375" type="General" weightage="20" keywordseo="Union-Finance-Minister-Nirmala-Sitharaman" source="keywords" meta.keywordsubtype="org" meta.entityname="Union Finance Minister Nirmala Sitharaman" meta.hostid="83" meta.entityid="Union Finance Minister Nirmala Sitharaman">Union Finance Minister Nirmala Sitharaman</keyword> has projected a <keyword id="19997196" type="General" weightage="20" keywordseo="growth-rate" source="keywords">growth rate</keyword> of 6.5 per cent and 7 per cent further solidifying <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s strong <keyword id="20018805" type="General" weightage="20" keywordseo="macroeconomic-fundamentals" source="keywords">macroeconomic fundamentals</keyword>, <keyword id="20060150" type="General" weightage="20" keywordseo="CBRE" source="keywords" meta.keywordsubtype="org" meta.entityname="CBRE" meta.hostid="83" meta.entityid="CBRE">CBRE</keyword> Chairman and CEO-India, South-East Asia, Middle East and Africa, <keyword id="20177586" type="General" weightage="20" keywordseo="Anshuman-Magazine" source="keywords" meta.keywordsubtype="org" meta.entityname="Anshuman Magazine" meta.hostid="83" meta.entityid="Anshuman Magazine">Anshuman Magazine</keyword> said on Monday. The country's economic performance in FY'24 surpassed expectations, registering a robust growth rate of 8.2 per cent. "This momentum is noteworthy considering three out of the past four quarters exceeded the 8 per cent growth mark," he said in his reaction to the Economic Survey. <keyword id="19895000" type="General" weightage="20" keywordseo="inflation" source="keywords">Inflation</keyword> is anticipated to moderate around 4.5 per cent and it reflects a 'well-balanced' economic environment, he said. "The survey acknowledges the <keyword id="20152263" type="General" weightage="20" keywordseo="real-estate-sector" source="keywords">real estate sector</keyword>, particularly the residential segment, as a significant driver of <keyword id="20018651" type="General" weightage="20" keywordseo="private-investment" source="keywords">private investment</keyword>. The survey emphasizes the importance of continued collaboration between central and state governments, along with the private sector, to sustain this momentum," Magazine said in a statement. India's post-pandemic recovery has been orderly and expansive and it is testament to the underlying resilience of the economy, he said. "Looking ahead to FY'25, several indicators such as robust private consumption, increased bank lending activity and improved corporate capital expenditure indicate towards a good year ahead," he added.

Economic Survey pegs growth at 6.5-7%; solidifying India's strong macroeconomic fundamentals: CBRE

The rise in <keyword id="6468581" type="General" weightage="20" keywordseo="housing-prices" source="Orion">housing prices</keyword> and mortgage rates have impacted affordability levels to buy homes in the last two years across seven major cities but it may improve next year due to a likely reduction in repo rate, according to JLL India. The improvement in affordability levels would further boost housing sales, which have risen despite increases in property prices and interest rates on home loans. The consultant on Sunday released its 'Home Purchase Affordability Index' (HPAI), which signifies whether a household earning an average annual income (at an overall city level) is eligible for a housing loan on a property in the city at the prevailing market price. "The rising repo rate in 2022 as the RBI reacted to the global recessionary and inflationary trends, plus a strong demand recovery spurring price hikes, worsened affordability in 2022," the report said. In 2023, the consultant said that affordability levels are likely to marginally worsen or remain the same when compared to 2022. A stronger price increase has been countered by stagnancy in repo rate movement, declining <keyword id="22195" type="General" weightage="20" keywordseo="inflation" source="Orion">inflation</keyword> and relatively higher growth in household incomes, the consultant explained. "In 2024, we are likely to see a renaissance with affordability levels expected to be on an improving trajectory as <keyword id="493702" type="General" weightage="20" keywordseo="macroeconomic" source="Orion">macroeconomic</keyword> fundamentals support a repo rate reversal and thereby interest rate reduction that could provide another fillip to the residential sales market," the report said. JLL expects a 60-80 basis points reduction in repo in the next year. It has derived this index through a combination of variables, which include home loan interest rates, average household income and price of the residential apartment. The HPAI is the ratio of the average household income to the eligible household income. Eligible household income is defined as the minimum income that a household should earn to qualify for a home loan on a 1,000-square-foot apartment at the prevailing market price. A value of 100 means that a household has exactly enough income to qualify for the loan. A value less than 100 implies that an average household does not have enough income to qualify for a housing loan. A value of more than 100 implies that an average household has more than enough income to qualify for a home loan. As per the data, the affordability index in Mumbai is estimated to dip to 88 from 92. In Delhi NCR, the index is seen declining to 121 from 125. The Index of Bengaluru is estimated to have dipped to 158 from 168. The index in Hyderabad is seen at 169 against 174 last year. Pune will witness a marginal fall to 182 from 183, while Kolkata will see a marginal improvement to 194 from 193. The affordability index of Chennai is estimated to be flat at 162 this year. JLL India noted that affordability was at its lowest in 2013 before rising on a sustained basis through 2014 to hit optimal levels in 2021. "Despite residential price hikes being sustained in 2023, better economic and job prospects and healthier income growths compared to 2022 have led to a relatively minor dip in affordability in 2023. "In fact, affordability levels remain much above the pre-COVID and worst affordability periods for all cities, clearly highlighting the headroom for market growth to continue," said Siva Krishnan, Managing Director and Head of Residential Services, India, JLL.

Affordability levels to buy homes hit in last 2 years; to improve in 2024 on likely repo rate cut: JLL

New Delhi, India's services sector activity eased in August but growth rates for new orders remain elevated, as services firms indicated the sharpest upturn in new export business which acted as a catalyst for firms to expand their workforces as well as output, a monthly survey said on Tuesday. Despite falling from 62.3 in July to 60.1 in August, the seasonally adjusted S&amp;P Global India Services PMI Business Activity Index indicated one of the strongest increases in output seen since mid-2010. For the 25th straight month, the headline figure was above the neutral 50 threshold. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction. "Indian services companies achieved a remarkable milestone in August, as they welcomed a series record surge in new export business. Several regions contributed to the upturn, including Asia Pacific, Europe, North America and the Middle East," <keyword id="2835710" type="General" weightage="50" keywordseo="pollyanna-de-lima" source="Orion">Pollyanna De Lima</keyword>, Economics Associate Director at S&amp;P Global Market Intelligence, said. Lima further noted that this spike in international demand supported one of the best sales performances recorded over the past 13 years, and acted as a catalyst for firms to expand their workforces as well as output. "Demand strength also fostered a heightened sense of optimism regarding the outlook, boding well for economic growth prospects," Lima said. On August 10, the <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> (RBI) left its key interest rates unchanged for a third straight meeting but signalled tighter policy if food prices drive inflation higher. The next meeting of the <keyword id="3446352" type="General" weightage="50" keywordseo="rbi-monetary-policy-committee" source="Orion">RBI Monetary Policy Committee</keyword> (MPC) is scheduled for October 4-6. On the prices front, buoyant demand for services meanwhile aided a further upward revision to selling prices. The rate of charge inflation quickened to the joint-fastest in over six years, while input costs rose to a lesser extent. "... Favourable demand trends also led to the joint-fastest increase in prices charged for Indian services in over six years, which may prompt attention from policymakers and potentially delay cuts to the benchmark repo rate," Lima added. On the jobs front, hiring activity across India's service economy continued to expand. The rate of job creation was moderate, but the strongest seen since last November. Going ahead, monitored companies firmly believed that output would remain on an upward growth path over the course of the coming 12 months. Advertising, demand strength, plans to price competitively and a healthy number of client enquiries all boosted optimism in August. Meanwhile, there was a mild slowdown in the growth of private sector activity across India during August. The S&amp;P Global India Composite PMI Output Index -- which measures combined services and manufacturing output -- fell from 61.9 in July to 60.9 in August. Despite the fall, the S&amp;P Global India Composite PMI Output Index was indicative of a sharp rate of expansion that was among the strongest in over 12 years, the survey said. The S&amp;P Global India Services PMI is compiled by S&amp;P Global from responses to questionnaires sent to a panel of around 400 service sector companies. The panel is stratified by detailed sector and company workforce size, based on contributions to GDP. Data collection began in December 2005.

India's services sector activity moderates in August; exports expand at record pace

<ul class="summary-list"><li>Markets may be headed for a decade of austerity, Research Affiliates wrote in a note.</li><li>October's equity correction signaled that the economy was normalizing under high interest rates.</li></ul>Economic resilience has helped investors weather this year's uncertainties better than most had hoped. But now, a cycle of normalization places markets at an inflection point, as a decade of austerity starts to take over, <a href="https://www.researchaffiliates.com/publications/articles/1005-from-abundance-to-austerity?evar36=eml_from-abundance-to-austerity-2023-11-14_heroJustPublished_buttonLink&amp;_cldee=DvX3U7Y7cmzVpmvnj9vQprQNnOKZ9-oUDi90x5JEbD4Oz4Y7StVAzZotma5lDvG9&amp;recipientid=contact-6bc1e2cff94bee11be6f00224828d4ab-c3a4581293db4542b34d10e1524fe78f&amp;esid=b1cdf4b6-3f82-ee11-8179-00224828d4ab" target="_blank" rel="noopener">Research Affiliates' Chief Investment Officer Jim Masturzo wrote</a>.According to him, the <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-sp500-looks-like-1987-no-october-crash-2023-10">corrective slump</a> that hit markets in October was a potential sign that the economy is transitioning away from post-pandemic distortions, such as high savings that have largely been consumed."We see the current selloff as a potential inflection point in the transition from a decade of abundance to one of austerity," he said.That will ignite pain for equity and long-term fixed income markets, as prices respond to an increasing cohort of risk-off investors.It marks a major shift in the investing environment. Before the Federal Reserve sharply increased rates to a 5.25%-5.50% over the last year and a half, markets enjoyed an era of ultra-low interest rates that followed the 2008 financial crash. "While no one stopped the music for the better part of the last 15 years, this game of macroeconomic musical chairs cannot go on forever," Masturzo said. Now, tighter monetary policy in a period of high deficit spending mean US Treasury yields will continue climbing."Higher rates are also expected to lower asset prices, unleashing a vicious cycle of lower capital gains and similar tax receipts that the government relies on for revenue. Lower government revenues, in turn, create the need for more borrowing, causing annual budget deficits and the national debt to spiral even higher," Masturzo added.Despite the Fed's best efforts, he noted that investors should also prepare for elevated inflation to stick around for the long term. Commodities will be the key driver of growth, especially as demand for them grows from both fossil fuel and renewable energy sectors.For investors looking to get ahead of these headwinds, Masturzo noted a handful of asset types: Safe havens, such as gold, real estate, commodities and some digital assets are attractive as current US debt levels will only get in the way of reducing inflation. Meanwhile, with real interest rates expected to remain positive, bonds will be a compelling investment. However, Masturzo suggested Treasury Inflation-Protected Securities as a more reasonable purchase.For equity shareholders, <a href="https://markets.businessinsider.com/news/stocks/growth-stocks-value-stocks-inflation-rebound-ai-investing-rob-arnott-2023-9">value stocks</a> will pay off better than growth investments, as valuations become a more important consideration. Investors should also keep an eye out on emerging markets, as Masturzo expects the dollar to depreciate with time. Developing economies are also better suited for the upcoming decade:"EM policymakers raised rates earlier and got inflation under control with less fallout than in past episodes. The emerging markets enjoy access to commodities in high demand, providing a natural base of growth, and their capital markets are poised to rebound from oversold conditions due to years of under-allocation," he wrote.

Markets are headed for a decade of austerity as the 'game of macroeconomic musical chairs' will stop, investment chief says

<ul><li><keyword id="17462779" type="General" weightage="20" keywordseo="Robert-E-Lucas" source="Orion">Robert E Lucas</keyword>, Nobel Laureate revolutionized the approach to <keyword id="645533" type="General" weightage="20" keywordseo="macroeconomics" source="Orion">macroeconomics</keyword> and smashed Keynesian school of economics.</li><li>He countered the theory that raging inflation would solve the unemployment problem.</li><li>His wife followed his theory on markets and possibilities and that helped her get half his Nobel prize money even after their divorce. </li></ul>Economists are often seen as storytellers who live in the make-believe world of theory and conjecture. But Robert Lucas, who spent most of his life in the University of Chicago, managed to influence his wife’s thinking so deeply with his theories on the market and possibilities that she made him commit half of the $1 million prize money if he ever won the coveted Nobel Prize. Lucas was divorced six years before he won the Nobel Prize, and he honoured the commitment made in his divorce settlement. His first wife <keyword id="5506510" type="General" weightage="20" keywordseo="Rita-Cohen" source="Orion">Rita Cohen</keyword> learned from him that markets did not just exist in the present and future, but also in the realm of possibilities. She clearly believed in the possibility of him winning the much coveted prize one day and it earned her $500,000, long after the divorce. A critique on orthodox economic policies Lucas passed away at the age 85 on May 15. But his theories on the close relationship between price rise and the employment market is legion. He is seen as a neoclassical economist who believed that policy interventions in the form of tax cuts to boost employment, did not work. Many even pronounced the death of the Keynesian school of economics in the 70s, as Lucas became more vocal about his critique of orthodox economic policies. The Keynesian school of economics models that all economic outcomes like output and inflation are a result of aggregate demand. Lucas won the Nobel Prize for Economics in 1995 for developing and applying the hypothesis of rational expectations. Whilst awarding him this prize, the Royal Swedish Academy of Sciences said that “Robert Lucas is the economist whose work has had the greatest impact on the development of macroeconomics and macro econometrics since 1970.” The rational expectations theory Lucas questioned and opposed the theory behind The Phillips Curve, which asserts that governments can decrease unemployment by boosting inflation and growth. His work also challenged Keynesian policy solutions and conclusions related to government intervention in the economy. His rational expectations theory showed that people take rational decisions about their individual economic welfare which will in turn impact the efficacy of government policies. This marked a monumental shift in the world’s approach to and understanding of macroeconomics. He is also remembered for the Uzawa-Lucas model of human capital accumulation and the ‘Lucas Paradox’. He authored many books, some of which include Studies in Business-Cycle Theory (1981), Rational Expectations and Econometric Practice (1981, with Thomas Sargent) and Recursive Methods in Economic Dynamics (1989, with Nancy Stokey and Edward Prescott). Personal life and career Robert Lucas was born in Yakima, Washington on September 15, 1937. His family later shifted to Seattle to open a small restaurant called The Lucas Ice Creamery and he graduated from Roosevelt High School. He attended the University of Chicago where he earned his undergraduate degree in history in 1959. He moved to economics after realising that economic factors were often the key drivers of history. Although he spent his first year as a graduate student at University of California, Berkeley, he returned to Chicago to complete his Ph.D in economics in 1964. He spent eleven years teaching at Carnegie Mellon University after which he returned to Chicago as a professor of economics which he continued for 40 years. In 1959, he married Rita Cohen, a fellow Chicago undergrad with whom he had two sons — Stephen and Joseph. The couple separated in 1982 after which he married Nancy Stokey, a distinguished economist in her own right. They collaborated in papers on growth theory, public finance, and monetary theory. Amongst many laurels, namely the Nobel Prize, he was a Guggenheim Fellow and a fellow of the Econometrics society<a href="https://economics.uchicago.edu/blog/memoriam-robert-e-lucas-jr-1937-2023">. A message from Robert Shimer,</a> Department Chair of The Kenneth C Griffin department of Economics at the University of Chicago, stated, “Bob leaves behind a legacy of revolutionary research, teaching, and leadership that transformed the field of economics and this department.” He is survived by his wife Nancy Stokey, his sons Stephen and Joseph, his sister Jenepher Spurr, his brother Peter J Lucas, and five grandchildren. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/zomato-net-loss-narrows-to-188-crore-in-q4-revenue-rises-70-yoy/articleshow/100358894.cms">Zomato net loss narrows to ₹188 crore in Q4, revenue rises 70% YoY</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/mankind-pharma-pnb-among-stocks-to-become-largecap-from-midcap-mutibagger-rail-vikas-nigam-to-turn-midcap-from-smallcap/articleshow/100356527.cms">Mankind Pharma, PNB among stocks to become largecap from midcap; mutibagger Rail Vikas Nigam to turn midcap from smallcap</a>

Nobel prize winnings in a divorce settlement — that’s how much economist Robert E Lucas’ ex-wife believed in him

<keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>'s <keyword id="493702" type="General" weightage="20" keywordseo="macroeconomic" source="Orion">macroeconomic</keyword> stability indicators will gradually improve in FY24 owing to a combination of factors, <keyword id="48670" type="General" weightage="100" keywordseo="morgan-stanley" source="Orion">Morgan Stanley</keyword> said in a report. According to Morgan Stanley, the macro stability indicators will gradually improve in F24 from somewhat elevated levels inAF23. "A combination of easing in global commodity prices (<keyword id="63194" type="General" weightage="20" keywordseo="yoy" source="Orion">YoY</keyword> terms), healthy growth mix (more capex driven), and fiscal and monetary policy on a consolidating path create the basis for the trend in macro stability indicators to improve," the report said. "We expect CPI inflation to average 5.5 per cent (6.7 per cent in F23 estimates) and the current account deficit to track at 2.5 per cent of GDP in F24 (2.9 per cent in F23 estimates)." As regards to the repo rates, Morgan Stanley expects the <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> to hike in April and peg the terminal repo rate at 6.75 per cent. A shallow rate cut cycle (of cumulative 50 basis points) from 1Q24 as visibility on durable moderation in inflation improves, the report said. "We see risks to macro stability as tilted to the upside driven by changes in global commodity prices, domestic or global exogenous weather events and the pace of the growth recovery," the report notes. Sticky trends in inflation and elevated trade deficit have raised some concerns on India's macro stability outlook, Morgan Stanley said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/tractors-commercial-vehicles-drive-auto-sales-in-february-but-el-nio-threat-looms-large/articleshow/98386451.cms">Tractors &amp; commercial vehicles drive auto sales in February but El Niño threat looms large</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/greed-for-wealth-facilitated-corruption-to-develop-like-cancer-sc/articleshow/98386482.cms">Greed for wealth facilitated corruption to develop like cancer: SC</a>

India's macro stability indicators to improve in FY24: Morgan Stanley

<ul><li>Over three quarters or 78% of Indian CEOs say that global economic growth will decline in the next 12 months. </li><li>After the economic downturn, CEOs are also worried about inflation and macroeconomic volatility in the short-term (12 months) and over the next five years. </li><li>As much as 85% of India CEO’s said they do not plan to reduce headcount, and 96% said they do not plan to reduce compensation either. </li></ul>Indian CEOs are the most pessimistic they’ve ever been in the last 12 years, according to a PricewaterhouseCoopers (PwC) annual CEO survey. Over three quarters or 78% of them believe that the global economic growth will decline in the next 12 months. This is a significant departure from the optimistic outlooks seen in 2021 and 2022, the survey said. However, 57% of CEOs also expressed optimism about the Indian economy. “Despite signs of a global economic slowdown, continuing high inflation and the ripple effects of the conflict in Europe, there is optimism among India CEOs about the country’s economic growth. To survive over the next few years, CEOs will need to manage external risks and drive profitability,” said Sanjeev Krishan, chairperson of PwC in India. India CEOs have faced more headwinds than tailwinds in the last couple of years but have nonetheless managed to stay the course, the report says. PwC’s 26th Annual Global CEO Survey polled 4,410 CEOs in 105 countries and territories, including 68 from India. Even in difficult times when most global CEOs are prioritising cost-cutting, Indian CEOs are keen on retaining talent. As much as 85% of them said they do not plan to reduce headcount, and 96% said they do not plan to reduce compensation either. Economic downturn on top of mind A year ago, most CEOs were worried about cyber or health risks, but this year, the impact of the economic downturn is top of mind. Inflation and macroeconomic volatility are also stressing them the most as they identify these as a risk both in the short-term (12 months) and over the next five years. Climate change comes next, followed by financial exposure to geopolitical conflict risks and cyber risks. “The conflict in Ukraine and growing concerns about geopolitical flashpoints in other parts of the world have caused India CEOs to rethink aspects of their business models, with almost half of the respondents that are exposed to geopolitical conflict integrating a wider range of disruptions into scenario planning and corporate operating models,” the report said. Those holding the top jobs at companies are trying to mitigate risks by increasing investments in cybersecurity or data privacy, said half of those polled. But the most common change that they are making is adjusting supply chains, as 67% claim to be doing that. The rest are re-evaluating market presence or expanding into new markets or diversifying their product/service offering. A different new world Indian CEOs are also weighed down by long-term worries, as 41% of CEOs believe that they do not expect their companies to be economically viable in ten years if they continue on their current path. They also see multiple challenges to profitability within their industries, as they believe they would be operating in a much different scenario than they are used to. “To survive over the next few years, CEOs will need to manage external risks and drive profitability. In the long term they will also need to reimagine, reinvent and reconfigure their businesses and work culture to thrive. Importantly, they need to act on both now, and simultaneously,” said Krishan. Around 62% of India CEOs believe that changing customer demand will impact profitability in their respective industries over the next ten years to a large or very large extent. This is followed by 54% who are concerned about changes in regulations. The next most common worry is disruption that will be caused by advanced tech, AI, metaverse, blockchain etc. Around 49% of them said that supply chain disruptions will also worry them in the next ten years. “Certain sectors such as pharmaceuticals, automotive, consumer electronics and chemicals have significant dependence on materials imported from countries such as China, Taiwan and Japan. These factors cause India CEOs to worry about supply chain disruption, uncertain lead times, heightened freight rates and commodity prices,” the report said. SEE ALSO <a href="https://www.businessinsider.in/finance/news/indian-inc-expects-budget-fy24-to-cushion-economy-from-global-risks-deloitte-survey/articleshow/96967472.cms">Indian Inc expects Budget FY24 to cushion economy from global risks; optimistic FY23 GDP growth will be above 6.5%: Deloitte survey</a> <a href="https://www.businessinsider.in/finance/news/rbi-downgrades-fy23-gdp-growth-projections-to-6-8-percent/articleshow/96047963.cms">RBI downgrades FY23 GDP growth projections to 6.8% - lower than World Bank and other global agencies</a>

Indian CEOs see a difficult year but most say they won’t go for job or salary cuts: PwC survey

<ul class="summary-list"><li>Inflation will see an intense drop, according to Pantheon's chief economist Ian Shepherdson.</li><li>He pointed to easing price pressures, even as wage inflation is slow to return to normal.</li></ul>Prices are set to see an intense drop, and inflation could fall below the Federal Reserve's 2% target by mid-next year, according to Pantheon's chief economist Ian Shepherdson."We are becoming increasingly worried that inflation will fall below the target by the middle of next year," Shepherdson said in a note on Tuesday.He pointed to pandemic-related drivers of inflation, like rents, consumer spending, corporate profits as well as energy and food prices, that are now reversing. Over the last quarter, <a href="https://markets.businessinsider.com/news/commodities/rent-prices-drops-cities-vacancies-housing-apartments-economy-mortgage-inflation-2023-4?utm_medium=ingest&amp;utm_source=markets">rents have begun to plunge</a> in key areas of the housing market. Americans are now beginning to <a href="https://markets.businessinsider.com/news/stocks/stocks-american-consumer-spending-stop-fed-interest-rates-analysts-2023-3">pull back on spending</a> as inflation bites into savings, and corporations have faced major earnings pressure amid rising prices and interest rates. And while <a href="https://www.businessinsider.com/why-prices-inflation-soaring-corporate-greed-profits-margins-wages-jobs-2023-4">wages appear to still be on the rise</a>, the slowdown in the other price pressures should bring inflation lower soon, Shepherdson said. "We expect intense downward pressure on inflation from non-labor costs sources," Shepherdson said, adding that wage growth would eventually slow as well. "[The Fed] will be able to respond to the weakness of the economy by cutting rates before long, even if the contemporaneous labor costs data are stronger than they would tolerate in the medium term."Inflation has already been on the downtrend since mid-2022, with <a href="https://www.businessinsider.com/inflation-price-growth-us-cpi-consumer-price-index-report-march-2023-4">the consumer price index inflation up 5%</a> in March, as the Fed hiked interest rates over 1,700% in the past year.Markets are pricing in an 83% chance that the Fed will pause rate hikes at its next policy meeting in June, and a 33% chance the central bank could begin to cut rates in July, per the <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html?redirect=/trading/interest-rates/countdown-to-fomc.html" target="_blank" rel="noopener">CME FedWatch tool</a>. The Fed dialing back interest rates is expected to be bullish for equities, with Fundstrat's Tom Lee predicting as much as a <a href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-bull-rally-falling-inflation-investing-fed-rates-2023-1">25% rally if the Fed pauses rates later this year</a>.

You Searched For "macroeconomic" and got 8 results

Economic Survey pegs growth at 6.5-7%; solidifying India's strong macroeconomic fundamentals: CBRE

PTI

Affordability levels to buy homes hit in last 2 years; to improve in 2024 on likely repo rate cut: JLL

PTI

India's services sector activity moderates in August; exports expand at record pace

PTI

Markets are headed for a decade of austerity as the 'game of macroeconomic musical chairs' will stop, investment chief says

Filip De Mott

Nobel prize winnings in a divorce settlement — that’s how much economist Robert E Lucas’ ex-wife believed in him

Ananya Tawakley

India's macro stability indicators to improve in FY24: Morgan Stanley

IANS

Indian CEOs see a difficult year but most say they won’t go for job or salary cuts: PwC survey

Katya Naidu

Inflation will see an intense drop and could fall below 2% by mid-2024, Pantheon Macroeconomics says

Jennifer Sor

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