SINGAPORE - Hawkish comments by usually dovish Fed officials confirm the United States central bank will go aggressively into monetary tightening.
Remarks by governor Lael Brainard that the Federal Reserve will begin a "rapid" reduction of its US$9 trillion (S$12.3 trillion) balance sheet as soon as next month were enough to send the Nasdaq plunging 2.2 per cent and the S&P 500 falling over 1 per cent mid-week.
Already a subscriber? Log in
Read the full story and more at $9.90/month
Get exclusive reports and insights with more than 500 subscriber-only articles every month
ST One Digital
$9.90/month
No contract
ST app access on 1 mobile device
Unlock these benefits
All subscriber-only content on ST app and straitstimes.com
Easy access any time via ST app on 1 mobile device
E-paper with 2-week archive so you won't miss out on content that matters to you
