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Federal Reserve Chairman Kevin Walsh said that investment in artificial intelligence is of great benefit to the US economy. Affected by this, US stock index futures rose, and Asian stock market gains expanded. The dollar weakened as traders lowered their expectations of the Fed's interest rate hike. Nasdaq 100 futures rose as high as 0.2% after Walsh made these remarks in Bangkok; the futures had previously fallen 0.5%. The MSCI Asia Pacific Stock Index rose 1.5%, and the Korea Composite Index rose 3.6%. Although Walsh did not specifically comment on monetary policy or the outlook for the US economy, the probability that the market expected the Federal Reserve's interest rate hike in October fell to 15% from over 25% on Thursday after the speech. Walsh also said that its productivity and employment task force will hold a live hearing in the San Francisco Bay Area next month. The Bloomberg dollar index fell 0.2%, and gold rose 0.2% to around $4180 an ounce. Charu Chanana, chief investment strategist at Saxo Markets, said, “Walsh did not promise to raise interest rates again. As a result, the market partially lifted the Fed's interest rate hike bets. Against the backdrop of stronger inflation data, he said, 'I will not prejudge the outcome of the interest rate meeting. 'This statement is not good for the US dollar.”
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Federal Reserve Chairman Kevin Walsh said that investment in artificial intelligence is of great benefit to the US economy. Affected by this, US stock index futures rose and Asian stock market gains expanded. Traders lowered expectations of the Fed's interest rate hike, and the dollar weakened. Nasdaq 100 futures rose as high as 0.2% after Walsh made these remarks in Bangkok; the futures had previously fallen 0.5%. The MSCI Asia Pacific Stock Index rose 1.5%, and the Korea Composite Index rose 3.6%. Although Walsh did not specifically comment on monetary policy or the outlook for the US economy, the probability that the market expected the Federal Reserve's interest rate hike in October fell to 15% from over 25% on Thursday. Walsh also said that its productivity and employment task force will hold a live hearing in the San Francisco Bay Area next month. The Bloomberg dollar index fell 0.2%, and gold rose 0.2% to around $4180 an ounce. Charu Chanana, chief investment strategist at Saxo Markets, said, “Walsh did not promise to raise interest rates again. As a result, the market partially lifted the Fed's interest rate hike bets. Against the backdrop of stronger inflation data, he said, 'I will not prejudge the outcome of the interest rate meeting. 'This statement is not good for the US dollar.”
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