-- Stocks in Asia were set to advance Thursday after US shares touched a fresh peak as economic data supported the case for Federal Reserve rate cuts.Zelenskiy Challenges Trump to Reveal Plans for Ending War
“Bad news is good news,” said Fawad Razaqzada at City Index and Forex.com. “That’s how risk assets reacted in the aftermath of today’s US data releases.” In Asia, the yen was steady Thursday after setting a fresh low since 1986 against the greenback for a third consecutive day as speculation persists that the Bank of Japan will tighten policy only gradually.
Fed Chair Jerome Powell said Tuesday that the latest economic data suggested inflation is getting back on a downward path, but emphasized officials need more evidence before lowering interest rates. When he was asked what keeps him up at night, he pointed to the delicate balance between taming inflation and avoiding a significant deterioration in the labor market.
Former President Barack Obama has reportedly told allies that Joe Biden’s disastrous debate performance has made his bid to win back the White House even tougher than it had been previously.The Washington Post reports that Obama gave a harsher private assessment of Biden’s chances of re-election following the debate despite publicly trying to ease concerns by tweeting that “bad debates happen.
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