Fed Chairman Jerome Powell’s statements increased risk appetite in global markets dominated by uncertainty pricing with the effect of the Ukraine-Russia war.
Fed Chairman Jerome Powell signaled that they were watching inflation carefully, pointing to a 25 basis point increase in interest rates for March, risk appetite increased in global markets.
Japan led the gains in Asian markets. South Korea’s Kospi index also rose more than 1 percent. European futures, on the other hand, showed a limited decline.
The increase in commodities in global markets continued to be at the forefront. After the OPEC+ meeting, Brent oil saw above $116.
Jerome Powell said they will stick to a rate hike plan this month to curb hyperinflation, but the outbreak of war in Ukraine has made the outlook “extremely uncertain” for Fed policymakers.
Stating that employers in the USA have difficulty in filling open job positions, Powell noted that this situation had caused the fastest rise in wages in recent years.
