India, Oct. 31 -- In the good old days, they used to say that fortune favours the brave. In today's topsy turvy world, calling a young woman a proud mother, instead of describing her as a birthing person, can lead to social exile, excommunication, and even a job loss. Hence, many observe that now fortune can favour the unpredictable, narcissist and the reckless. These are the three descriptions that may sum up the personality of the American president, Donald Trump.

It is in this context that one needs to look at the way the US Federal Reserve announced a second consecutive 25 basis point cut in the base interest rates, and how the markets reacted. For weeks prior to the Fed meeting on October 29 2025, the experts and markets cheered in ...