Jerome Powell sent a stir through global markets Tuesday, paving the way for quicker-than-expected U.S. hikes, which would ripple through rate-sensitive Asian assets.
The Federal Reserve Chair told Congress that policymakers will discuss whether to wrap up bond purchases a few months earlier and retired the word “transitory” from his commentary on inflation. Higher U.S. rates would have a significant impact on Asian assets if capital flows to America. A stronger greenback has implications for Asia’s export-heavy companies and economies and the dollar-denominated debt of the region’s sovereign and corporate borrowers.
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December 01, 2021 at 10:11AM
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