Marketmind: Powell's prudence spurs a sell-off

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Federal Reserve Chair Jerome Powell's interview with CBS news show '60 Minutes' and a strong U.S. jobs report have dampened expectations of early rate cuts by the Fed, leading to a sell-off in Asian stocks and higher bond yields. Powell stated that the central bank can be 'prudent' in deciding when to cut interest rates, emphasizing the need to balance the risk of moving too soon or too late. Traders had previously priced in March as the starting point for the Fed's expected easing cycle, but strong labor data and Powell's recent statements have raised doubts. The dollar has strengthened, Asian equities have slid, and investors are now pricing in an 82% chance of the Fed keeping rates unchanged in March. European bourses are expected to open muted, with PMI releases providing insight into the health of Europe's economy and the outlook for the European Central Bank's rate moves.

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https://uk.investing.com/news/economy/marketmind-powells-prudence-spurs-a-selloff-3323040