Attention turns to the Fed’s monetary policy following indications last week of no additional tightening.
Slowing US job data on Friday boosted sentiment that the Fed was on course to deliver a soft landing for the economy and avoid a recession.
However, officials refuse to commit one way or the other for now, instead saying they want to see more evidence that inflation is on a true downward slope and the labour market has softened enough. “We’ve got to get inflation down — that’s the number-one thing,” he told CNBC. “I’m absolutely hammering that’s what we should be watching.”“To get inflation down as much as we’re getting it down without a big recession, that’s basically never happened,” he said.
But Asian investors were more circumspect, with some markets drifting in and out of positive territory.
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