Stocks in Asia were set to open lower on Wednesday after officials from the U.S. Federal Reserve tempered expectations for a potential interest rate cut.
Federal Reserve Chairman Jerome Powell said the U.S. central bank is assessing whether current economic uncertainties call for lower rates, but noted the Fed will take a wait-and-see approach given how rapid recent economic changes have been.tempered expectations for a potential interest rate cut.in Japan. The Nikkei futures contract in Chicago was at 21,065, as compared to the benchmark index's last close at 21,193.81.
Shares in Australia were also poised to decline. The SPI futures contract was at 6,558.0, as compared to the
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