Asian stocks rose due to lower US inflation in May, easing Fed rate cut concerns.
Asian stocks rose as traders welcomed lower US inflation in May, calming concerns about the Federal Reserve's forecast of only one interest rate cut this year. This second consecutive month of slowing inflation boosted optimism for monetary policy easing after a long period of tightening. The Fed's "dot plot" outlook for interest rates showed decision-makers anticipating only one cut this year, down from the previous guidance of three cuts in March.
June 13, 2024
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