HONG KONG – Asian markets were broadly down Thursday after the Fed signalled a possible inflation-induced policy change, while concerns lingered over China’s crackdown on tech giants.
The Federal Reserve said Wednesday that while rising prices were expected as the US economy recovered from the pandemic, the inflation jump was higher than expected.
Officials said the US central bank needs to be ready to pull back on its massive support programme if this persists, according to minutes from a June policy meeting.
But it gave no indication that a reversal was imminent — a stance consistent with commentary from Fed chair Jay Powell that did not jolt the market.
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Keep on reading: Asian markets down over Fed signal, China tech crackdown