Fed funds futures are pricing in equal odds of a 25 basis point rate hike or no change in May.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.27%, while Japan’s Nikkei fell 0.50%. Australia’s S&P/ASX 200 index lost 0.67%. The Fed’s statement suggested it was on the verge of pausing interest rate rises, but Powell in his press conference said the central bank would do “enough” to tame inflation and raised the prospect of further increasing rates if it needed to.
“This won’t be the final word on either rates or deposit insurance in all likelihood, and a little further homework and collaboration between Fed and Treasury Dept seems probable.”
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