FOMC has cut the benchmark interest rates by 25 bps to 4%-4.25%, and has signaled two more rate cuts this year. Asian markets traded higher, while the Indian stock market benchmark indices, Sensex and Nifty 50,

The lineup of the Fed voters will also be scrutinized. Stephen Miran was installed as the newest Fed governor just before the meeting started Tuesday. The latest decision in the legal battle between Lisa Cook and President Donald Trump was delivered late Monday, allowing her to keep her position as a lawsuit moves forward.

Federal Reserve Chair Jerome Powell said that recent data point to less concern that new White House tariffs will lead to a spiral of higher inflation. "The case for there being a persistent inflation outbreak is less,

During his remarks at the White House in July, President Trump sounded off on Jerome Powell over interest rates. Trump stated, "I call him too late."