Tokyo — Asian stocks retreated on Wednesday and the dollar inched up from three-month lows after Federal Reserve officials tempered expectations in the markets for aggressive monetary easing.
Fed chair Jerome Powell on Tuesday said the central bank is “insulated from short-term political pressures”, pushing back against US President Donald Trump’s demand for a significant rate cut. Powell, however, said Fed policymakers are wrestling with questions on whether uncertainties around US tariffs, Washington’s conflict with trading partners and tame inflation require a rate cut...
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