Asian markets are set for a mixed open, with Hong Kong markets set to fall to its lowest since Dec 8, 2022
— CNBC's Sarah Min, Samantha Subin and Brian Evans contributed to this reportBoston Federal Reserve President Susan Collins thinks the central bank where it stop increasing interest rates.
In a speech delivered Thursday to graduates from the Community College of Rhode Island, Collins indicated she's seeing "signs of moderation" from inflation that could negate the need for future hikes. "I believe we may be at, or near, the point where monetary policy can pause raising interest rates. This will provide an opportunity to more fully assess the impact of the actions taken to date and the general tightening of credit conditions on economic activity," she said in prepared remarks.
Markets pricing, however, has shifted, with the expectation now that the Fed will raise a quarter percentage point by the July meeting.Congressional leaders and President Joe Biden were close to a preliminary agreement to raise the debt ceiling on Thursday, according to a report fromProgress between Biden and House Speaker Kevin McCarthy is pinned to $70 billion in discretionary spending, the report said.
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