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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Business News
April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.