Thu, 23 May 2013 18:00:00 GMT | By ANI

Chidambaram: U.S. Federal Reserve's statement misunderstood

Chidambaram's statement, however, failed to prevent steep falls in domestic markets on Thursday


Chidambaram: U.S. Federal Reserve's statement misunderstood (© AFP)

New Delhi: Finance Minister P. Chidambaram on Thursday sought to calm stock markets in India after Federal Reserve Chairman Ben Bernanke suggested bond purchases could be scaled back if the U.S. economy improves.

Addressing a news conference here, Chidambaram said fears that the Federal Reserve would start reversing its U.S. monetary stimulus programme were being misunderstood in stock market and investor circles.
His statement, however, failed to prevent steep falls in domestic markets on Thursday.

(Continued)
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