Asian stocks posted strong gains on Wednesday after Federal Reserve Chair Jerome Powell did not provide any new details on interest rates at his Senate confirmation hearing.
Powell has made it clear interest rates will increase if inflation persists but also said he expects some of the supply chain problems that are pushing up prices will ease in the middle of this year.
Investors also digested Chinese inflation data and looked ahead to the release of U.S. December inflation data later in the day for further clues on the rate outlook.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.