Asian stocks declined on Friday as a jump in U.S. bond yields following a disappointing Treasury auction coupled with Fed Chair Jerome Powell's cautious comments on the rate hike path dashed expectations of a peak in U.S. interest rates.
Echoing recent hawkish statements from several officials, Powell said on Thursday that the Fed isn't yet confident they had reached a sufficiently restrictive level of monetary policy to bring inflation down to the 2 percent target.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.