Stocks slip as focus turns back to Fed and inflation

"So far the major banks that have reported have largely helped to settle market nerves," said Khoon Goh, head of Asia research at ANZ in Singapore. "With those stresses easing away, markets are now back to focusing on the Fed."

Markets are pricing an 86% chance the Fed raises rates by 25 basis points at the May meeting, and are winding back expectations of cuts later in the year -- moves that have put the brakes on U.S. dollar selling. Sterling hit a 10-month high of $1.2545 last week and bounced with strong wages data on Tuesday. It was last at $1.2420. The euro hit a one-year high above $1.10 last week and lurked at $1.0969 in Asia trade on Wednesday.

Elsewhere, Brent crude futures were steady at $84.52 a barrel, roughly where they have traded for a few weeks since OPEC+ announced surprise production cuts. Gold held above $2,000 an ounce and bitcoin above $30,000.

Inflate my ass, someone has gotta fucking stop these high ass prices.

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