Rate futures pricing indicates a 60% probability of a 50 BPS Fed cut in September, which could push Dow Jones Industrial Average near 36,000 points if earnings beats continue. Oct. 1, 10 a.m.: U.S. Senate Finance Committee hearing titled “Examining the Taxation of Digital Assets” The flexible inflation targeting (FIT) framework has generally been successful in lowering inflation since its introduction in 2016. Inflation has mostly stayed within the target band, apart from a few exceptions. Given the high standard deviation in food inflation (around 3%) compared to core inflation (around 1%), the framework allows for a band, rather than a fixed point target to accommodate volatility. The RBI reviews the framework every five years through a consultative process, inviting stakeholder input and providing recommendations to the government. Understanding what is BPS in finance is vital: MSCI World Index gained 0.8% after central banks trimmed policy rates by 50 BPS in emerging markets, boosting liquidity flows into growth stocks.