Asian stock markets rose Thursday following Wall Street's biggest one-day decline in two months after notes from a Federal Reserve meeting showed officials...
BEIJING — Asian stock markets rose Thursday following Wall Street’s biggest one-day decline in two months after notes from a Federal Reserve meeting showed officials expect to keep U.S. interest rates high to fight stubborn inflation.
“The need for ‘higher for longer’ rates was made plain,” said Vishnu Varathan of Mizuho Bank in a report. Traders have begun calling off bets the Fed might cut rates late this year. They expect at least two more increases by the Fed of 0.25 percentage points. Some think the U.S. central bank might go back to using unusually large increases of double that margin.
That followed resilient readings on hiring, retail sales and inflation that showed economic activity still is strong.
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