Global shares extended gains on Thursday after the Federal Reserve said it was too early to consider rolling back emergency support for the economy, and U.S. President Joe Biden proposed a $1.8 trillion stimulus package.
HONG KONG, April 29 (Reuters) - Asian shares rose in early trade on Thursday after the U.S. Federal Reserve said it was too early to consider rolling back emergency support for the economy, and as U.S. President Joe Biden unveiled plans for a $1.8 trillion stimulus package.
Fed Chair Jerome Powell said on Wednesday that “it is not time yet” to begin discussing any change in policy after the U.S. central bank left interest rates and its bond-buying programme unchanged, despite taking a more optimistic view of the country’s economic recovery.
Powell’s comments came before Biden’s unveiling of a sweeping package for families and education in his first speech to Congress.
Copper slipped on Thursday after briefly punching above the $10,000 level, last broken a decade ago, as speculators locked in profits amid worries about industrial demand.