Prices of the crop have fallen to as low as 200 rupees ($2.44) per 100 kilograms prompting some farmers to dump the crop in fields in the western state of Maharashtra, the largest producer of red onion in the country, where rates have fallen sharply.
Fed’s Jefferson urges patience on rates; Kashkari sees more hikes ahead
Federal Reserve Vice Chair Philip Jefferson stated that he sees no immediate need for further interest rate adjustments. He emphasized that future decisions would depend