The Fed’s rate hike and Powell’s comments “demonstrate that the Fed continues to try and orchestrate a soft landing while tackling high levels of inflation,” David Chao of Invesco said in a report. central bank is “not actively considering” a bigger increase. Wall Street’s benchmark S&P 500 index climbed 3% on Wednesday for its best day in two years after the Fed raised its key interest rate by half a percentage point, or double its usual margin, but its chairman Jerome Powell said the U.S. Markets in Japan and South Korea were closed for holidays. Shanghai, Hong Kong, Australia and Southeast Asian markets advanced. central bank’s biggest increase in two decades. BEIJING (AP) - Asian stock markets followed Wall Street higher on Thursday after the Federal Reserve chairman downplayed the likelihood of bigger rate hikes following the U.S.
