Are Rates High Enough? Fed Resets Clock on Interest-Rate Cuts
A string of disappointing inflation data has forced the Federal Reserve to reset the clock on its first interest-rate cut and re-evaluate the trajectory of price growth.
A string of disappointing inflation data has forced the Federal Reserve to reset the clock on its first interest-rate cut and re-evaluate the trajectory of price growth.
Asian stocks slid as broad risk aversion swept through markets on renewed concerns over an escalation of tensions in the Middle East and worries about higher-for-longer US rates.
An escalation of tensions in the Middle East kept stock markets on edge, though haven assets including bonds and the dollar gave up some early gains after Iranian media appeared to downplay the impact of Israeli strikes.
Vietnam’s central bank said it sold dollars to some banks, intervening in the foreign exchange market as the currency fell to a record low.
The European Central Bank could lower borrowing costs in both June and July, should disinflation in the euro zone be stronger than anticipated, Governing Council member Gediminas Simkus said.
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