scorecardresearchGlobal Markets Wrap: Hawkish Fed comments knock stocks, help dollar

Global Markets Wrap: Hawkish Fed comments knock stocks, help dollar

Updated: 24 Aug 2022, 08:54 AM IST
TL;DR.
Minneapolis Federal Reserve Bank President Neel Kashkari was the latest official to reiterate the Fed's focus on controlling inflation ahead of all else, and said on Tuesday his biggest fear was underestimating the extent of price pressures.
A currency trader watches monitors in front of screens showing the Korea Composite Stock Price Index (KOSPI), left, and the exchange rate of South Korean won against the U.S. dollar at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, Aug. 22, 2022. Asian stock markets were mixed Monday after China cut an interest rate that affects mortgage lending while investors looked ahead to this week’s Federal Reserve conference for signals about more possible U.S. rate hikes to cool surging inflation. (AP Photo/Ahn Young-joon)

A currency trader watches monitors in front of screens showing the Korea Composite Stock Price Index (KOSPI), left, and the exchange rate of South Korean won against the U.S. dollar at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, Aug. 22, 2022. Asian stock markets were mixed Monday after China cut an interest rate that affects mortgage lending while investors looked ahead to this week’s Federal Reserve conference for signals about more possible U.S. rate hikes to cool surging inflation. (AP Photo/Ahn Young-joon)