Page 37 - Tom Barkin News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The US Fed recently pencilled in up to three rate cuts in 2024, sending US stock markets surging to new records. Read more at straitstimes.com.

Asian markets continued their disappointing start to the year Thursday, tracking another loss on Wall Street after minutes from the Federal Reserve's December meeting dampened hopes for an early interest rate cut.

US stocks dropped sharply on Wednesday with the Dow falling nearly 300 points after minutes from the latest Federal Reserve policy meeting failed to give conclusive evidence of when the central bank might start to cut interest rates.

Federal Reserve meeting minutes show an unusual amount of uncertainty from officials about whether the economy is ready for rate cuts, while Richmond Fed President Tom Barkin said the potential for interest rate hikes “remains on the table.”

Asian markets continued their disappointing start to the year Thursday, tracking another loss on Wall Street after minutes from the Federal Reserve's December meeting dampened hopes for an early interest rate cut."Participants viewed the policy rate as likely at or near its peak for this tightening cycle," the minutes said, adding there was growing optimism among decision-makers that there was "clear progress" on inflation, which continues to fall.