May 17, 2026

Central

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Fed showdown: Donald Trump’s legal move against Jerome Powell sharpens rate-cut battle; raises questions over central bank independence

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The US Justice Department’s threat to criminally indict Federal Reserve Chair Jerome Powell has triggered a fresh confrontation between the White House and the central bank, intensifying concerns over the Fed’s independence and the direction of US monetary policy.The subpoenas, served on Friday, relate to Powell’s June testimony on the $2.5 billion renovation of Federal…

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Federal Reserve Chair Powell says DOJ has subpoenaed central bank, threatens criminal indictment

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Federal Reserve Chair Jerome Powell said Sunday the Department of Justice has served the central bank with subpoenas and threatened it with a criminal indictment over his testimony this summer about the Fed’s building renovations. The move represents an unprecedented escalation in President Donald Trump’s battle with the Fed, an independent agency he has repeatedly…

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Budget 2026: Punjab, Telangana flag higher fiscal burden under VB-G RAM G; seek more central funds

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Opposition-ruled states Punjab and Telangana on Saturday sought additional fiscal support from the Centre in the Union Budget 2026-27, arguing that the proposed Viksit Bharat Guarantee for Rozgar and Ajeevika Mission (Gramin) (VB-G RAM G) will place a heavier financial burden on states due to its revised cost-sharing formula, PTI reported.The demands were raised at…

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ED, I-PAC face-off at Cal HC: Central agency flags ‘obstruction’ by Mamata; committee questions raid legitimacy | India News

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NEW DELHI: The Enforcement Directorate and I-PAC moved the Calcutta high court following the ED’s raid at the office and residence of I-PAC chief Pratik Jain. ED moved the court alleging obstruction and interference in the investigations after Bengal CM Mamata Banerjee arrived at the officer’s residence. I-PAC, on the other hand, moved the court…

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Gold seen as top commodity of 2026 driven by central bank buying, geopolitics; silver to shine too: Goldman Sachs

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Gold is set to be the top performer in 2026, driven by strong central bank buying and rising global tensions, according to Goldman Sachs’ latest commodities outlook report. The bank forecasted gold prices to reach $4,900 by December in the new year, with central banks expected to purchase 70 tonnes monthly, which is four times…

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Bengal BLO protests: Central forces to guard state CEO’s office; Union govt approves Election Commission proposal | India News

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Kolkata: Booth Level Officers (BLOs) under the banner of ‘BLO Adhikar Raksha Committee’ stage a protest over alleged excessive workload during the ongoing Special Intensive Revision (SIR) of electoral rolls, outside Chief Electoral Officer’s (CEO) office, in Kolkata. (PTI Photo) NEW DELHI: Central armed forces will be deployed at the office of the West Bengal…

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Fed call ahead: Central bank eyes third rate cut amid sharp divisions; why follow-up easing looks uncertain

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The US Federal Reserve is widely expected to lower borrowing costs this week, but deep divisions within the policy-making panel suggest further rate cuts will be harder to secure, analysts say.Policymakers are set to meet on December 9–10 amid a complicated economic backdrop, with inflation still running above the Fed’s 2% target even as hiring…

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‘Exceptional’: SBI hails RBI’s repo rate cut; report says Central bank played its part, now markets should remain disciplined

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The Reserve Bank of India (RBI) slashed the repo rate by a quarter point to 5.25% on Friday, at a time when the economy is growing strongly and inflation remains exceptionally low. SBI, in its latest report hailed the decision hailed as “exceptional” and said that the central bank had played its role in ensuring…

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Central Excise (Amendment) Bill 2025: Govt to replace GST compensation cess on tobacco, pan masala; Here’s what you should know

contact@dailyupdatesindia.com03 mins

NEW DELHI: With the beginning of the Winter Session of Parliament on Monday, the government is set to table two key bills in the Lok Sabha proposing an excise duty on sin goods, like tobacco and tobacco products, and another introducing a new cess on the manufacturing of pan masala. What is Central Excise (Amendment)…

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