US Fed meet outcome today: Will Powell open gates for Nifty bulls?

The US Federal Reserve is expected to raise interest rates for the third consecutive time later today, with traders predicting a 84% chance of a 0.25% rate hike. The increase would take the Fed’s target range to 5.00-5.25%, although inflation is still far from the 2% target. Investors are looking for a signal from Fed Chairman Jerome Powell on whether or not there will be a pause in future hikes. The major support for Indian share indices is the $48m in renewed buying by foreign institutional investors, which has turned the market trajectory positive over the past month.