BANGKOK — Asian shares opened mostly lower on Monday after a retreat on Wall Street spurred by disappointing economic data and corporate earnings. Oil prices also slipped.
Investors are awaiting the next move by the U.S. Federal Reserve, which is expected to raise its key interest rate again on Wednesday as it strives to beat back inflation.
The Fed will likely announce its second 0.75% point increase in its short-term rate in a row, a hefty increase that it hasn’t otherwise implemented since 1994. That will put the Fed’s benchmark rate in a range of 2.25% to 2.5%, the highest level since 2018.
The U.S. economy is slowing but healthy hiring shows it is not yet in recession, Treasury Secretary Janet Yellen said Sunday on NBC’s “Meet the Press.” She spoke ahead of the release this week of a slew of economic reports that will shed light on an…
