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European stocks retreat after hawkish Fed; more inflation data in focus

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European stocks retreat after hawkish Fed; more inflation data in focus

Investing.com - European stock markets fell Thursday as a hawkish Federal Reserve raised concerns about the additional easing of monetary policy going forward.unchanged on Wednesday, as widely expected, but in a hawkish surprise the central bank officials now believe that fewer rate cuts are needed this year, as inflation is expected to trend higher than previously expected.

Additionally, four FOMC committee members called for no cuts this year, a much more hawkish stance than had been expected.cut interest rates last Thursday for the first time since 2019, but held back from any promise to follow up its move, creating a degree of uncertainty over what follows.

Outsized builds in distillates and gasoline stockpiles also drove up concerns that fuel demand was not picking up with the summer season as expected.

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