Federal Reserve Chair Jerome Powell said the central bank will not wait until inflation hits 2% to cut interest rates.
Asia-Pacific markets open mixed on Tuesday following a slew of political and economic news from the U.S.
Traders will also look for developments from China's Third Plenum, where high local government debt levels and a push for advanced manufacturing will be on the agenda.Powell indicated that central bank is looking for "greater confidence" that inflation will drop to the 2% level, citing "long and variable lags" in policy effects.will lead to big gains for the party and friendlier fiscal policies pushed the Dow Jones Industrial Average to close at fresh highs.
The blue-chip Dow also reached a new intraday high, advancing 0.53% to close at 40,211.72. Similarly, The S&P 500 added 0.28% to 5,631.22, while theElsewhere, Singapore state investor Temasek announced plans to invest up to $10 billion in India over three years in the country's financial services and healthcare industries. As of March, the company had 7% of investments in the South Asian nation.
Temasek, which has 19% of its investments in China, said it continues to take a cautious stance due to trade tensions.
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