Global shares and Asian markets rally after Federal Reserve painted a rosy picture of the US economic outlook, repeating a pledge to stick to its guns with an ultra-low monetary policy.
Battle between economic optimism and fears about inflation and possible rate hikes that recovery will fuel has continued to play out on trading floors.
United Nations Security Council meets to discuss Myanmar crisis as pro-democracy activists hold fresh demonstrations against the military coup.
If approved by the Senate, Yellen will be the first female Treasury Secretary of the US.
With the economy still reeling from the damage inflicted by the coronavirus pandemic, the Federal Reserve confirmed it will keep the benchmark interest rate at zero until the recovery is underway.
The Federal Reserve took emergency action to help the economy withstand the coronavirus by slashing its benchmark interest rate to near zero and saying it would buy $700 billion in Treasury and mortgage bonds.
US president's upbeat comments on trade stoked confidence in Asia. Experts say "accommodative Fed and accommodative monetary policy" are likely driving the markets, calling US-China trade headlines just "noise" that works in the short-term.
World's largest economy grows at slowest pace in two years, signalling a weakening outlook for all sectors except the housing market.
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