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The Senate confirmed Stephen Miran, a top Trump economic advisor, to the Federal Reserve board, raising concerns about the Fed's independence. The vote was largely along party lines, with Democrats expressing fears of political influence. Miran's appointment comes as the Fed is expected to reduce interest rates amidst economic uncertainty, with inflation above target and unemployment slightly elevated.
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Asian stocks saw modest gains following Wall Street's record highs, fueled by anticipation of a Federal Reserve interest-rate cut this week. The S&P 500 surpassed 6,600 amid bets on Fed easing, while a TikTok deal and potential Trump-Xi talks also boosted sentiment.
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Anand Rathi Share and Stock Brokers plans a 745-crore IPO launch this month. This marks the second company from the financial services group to enter the primary market. The IPO consists entirely of a fresh share issue. The company intends to allocate 550 crore from the proceeds to meet long-term working capital needs.
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