“The plan to rely on word-of-mouth & have a single offering for all customers had benefits that we never thought of at the start. Economies of scale kicked in not just in tech but across support & ops—the team size has remained the same as we went from 20lk to 1cr clients,” Kamath said on Twitter.

As that pain gets greater, Powell said, people should not expect the Fed to dial back quickly until the inflation problem is fixed. Some investors anticipate the Fed will flinch if unemployment rises too fast, with some even penciling in interest rate cuts next year, an outlook U.S. central bank officials have leaned hard against in recent weeks.

"I want to see our policy get to something that is marginally restrictive," Bostic told Bloomberg TV in Jackson, Wyoming, where Fed officials are gathered for a conference.

The Dow Jones Industrial Average dropped 611 points, or 1.85%, after initially seesawing during the Fed chair’s comments. The S&P 500 fell 2.18% and the Nasdaq Composite slid 2.71%.

Unlike the conventional financial markets of equities, crypto investors trade across 8-10 main crypto exchanges that are registered in India, as well as 3-4 primary international exchanges. For those investors that rely on these registered exchanges in India (including a few international exchanges), they are their gatekeepers to access crypto assets.

As a result, the Bank of England itself projects inflation to hit a peak of 13% in 2022, with some estimates even hitting 15% year on year (YoY). Cost of living is rising across the Euro area, which will only get worse with winter energy needs. Surveys indicate that people are already missing meals in order to make ends meet, with even some related suicides reported.

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Friday's small bearish candle was placed within a long bear candle of the previous session. Technically, this action indicates range movement in the market with high volatility, said Nagaraj Shetti, Technical Research Analyst at HDFC Securities.