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Moneycontrol Pro Weekender | Markets want more Dear Reader, Fed chairman Jerome Powell hardly said anything new in his interaction with the Wall Street Journal, but that didn’t stop the US markets from selling off and others promptly followed suit. Sure, the talk is all about resurgent inflation leading to higher bond yields. But isn’t this rise in bond yields supposed to be a good thing, because it’s the result of higher growth? And higher growth is precisely what the Global Composite PMI for February shows, with the recovery being the strongest in the US, followed by India. The PMI for India confirmed that a cyclical recovery is under way, a fact borne out by our own recovery tracker. The RBI’s report on the state of the economy too was very bullish. Add to that the fiscal and monetary stimulus and the vaccination drive and growth can only get better. And just in case you were wondering why the government isn’t juicing the economy even more by allowing the private sect

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