'Hawkish' Fed cut likely amid fiscal, political pressure: Manulife's Franklin

• Manulife's Marc Franklin anticipates a 'hawkish' 25 basis points Fed rate cut, balancing inflation and employment.
• Franklin expects the Fed to be data-dependent, not on 'autopilot,' potentially removing a cut from next year's dot plot.
• The Fed faces challenges from pro-cyclical fiscal policy and political pressure for deeper rate reductions.
• Franklin holds a neutral stance on India's equity market, noting limited multiple expansion and future reliance on earnings growth.
• A key risk for India is a potential shift from Russian crude, which could negatively impact its current account and currency.

Why It Matters: Fed's complex rate cut decision impacts global markets and your investments.