Asia markets are trading lower after the release of the FOMC minutes from the U.S. Federal Reserve
— CNBC's Hakyung Kim, Jeff Cox and Samantha Subin contributed to this report.The minutes showed inflation remained "well above" the Fed's 2% target, adding that the labor market is still "very tight, contributing to continuing upward pressures on wages and prices.
"It has become popular to say, 'Let's slow down and feel our way to where we need to be.' We still haven't gotten to the point where the committee put the so-called terminal rate," he said during a live " " interview. "Get to that level and then feel your way around and see what you need to do. You'll know when you're there when the next move could be up or down."Headwinds should persist even with worst of inflation in the "rear view," says Morgan Stanley's Loewengart
Minutes from the Federal Reserve's latest meeting seem to confirm that while inflation is easing, it's too early to expect a pivot just yet, said Mike Loewengart, head of model portfolio construction at Morgan Stanley Global Investment Office. "The worst of inflation may be in the rear view, but it remains well-above the Fed's target," he wrote. "Bottom line is that many market headwinds aren't going away and investors should expect volatility to stay as they parse over the impact rates being higher for longer will have."
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