"Federal Reserve Foresees 3 Rate Cuts, Wall Street Rallies to Records"

Asian markets rise after U.S. stocks hit records following the Federal Reserve's indication of expected interest rate cuts, with Japan's Nikkei 225 rising 1.6% and Hong Kong's benchmark jumping 1.8%. The S&P 500 and Nasdaq also hit records, alleviating Wall Street's nervousness after the Fed's survey showed expectations for three interest rate cuts in 2024. Fed Chair Jerome Powell reiterated the likelihood of a rate cut this year, but emphasized the need for confirmation of inflation moving toward its 2% target. Treasury yields had a mixed reaction, with the two-year yield falling to 4.61% and the 10-year yield sitting at 4.28%.