Federal Reserve Bank of Cleveland President Beth Hammack said interest rates are likely to remain unchanged for an extended period, citing major economic uncertainty. She warned that inflation could become a persistent mindset for consumers and businesses, noting that people have effectively endured about a decade of inflation within just five years—making it harder for policy makers to reset expectations.
Indian consumers are tightening their spending, prioritising essentials and upgrading day to day experiences while postponing big-ticket purchases, Deloitte says. Shoppers are increasingly chasing value and quality rather than impulse decisions. At the same time, interest in electric vehicles is rising, suggesting households may be planning for future technology even as they remain cautious now.
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Global development banks are stepping up coordination to help countries face intensifying economic uncertainty. By combining funds, expertise and risk-management tools, they plan to deliver faster support for immediate pressures while strengthening long-term resilience. The push will prioritize protecting vulnerable populations and accelerating private sector growth, jobs and sustainable development.
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