Asian markets rise as banking stocks in the U.S. extend a rally and ahead of the Fed's rate hike decision
12 Hours AgoTreasury Secretary Janet Yellenthat while authorities believe they've taken sufficient action to stem liquidity problems in the banking sector, the government is prepared to guarantee even more deposits if the banking crisis gets worse.
CEOs from big banks, including JPMorgan's Jamie Dimon and Bank of America's Brian Moynihan, are meeting in Washington Tuesday for a two-day scheduled gathering,First Republic Bank, which has been under pressure due to the large percentage of uninsured deposits, will be discussed at the meeting, Reuters reported.
"The 2% inflation objective is unlikely to be realized in 2023 but there is some hope that we may see a more normal inflation environment by 2024," Brendan Murphy, Head of Core Fixed Income, North America wrote in a Tuesday note. Insight Investment expects the central bank will raise interest rates by 25 basis points on Wednesday, but added that "the recent market volatility could be an opportunity for them to pause at this meeting."
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