Asia-Pacific markets largely fell on Monday, with Japan's markets still hovering near 33-year highs.
Consumer inflation expectations tumbled in June, providing support for the Federal Reserve in its battle against rising prices.
The headline reading for the survey posted a 63.9 reading, better than the Dow Jones estimate for 60.2 and up from May's 59.2.Richmond Federal Reserve President Thomas Barkin said Friday that he would be fine with raising interest rates if inflation doesn't continue coming down. "I recognize that creates the risk of a more significant slowdown, but the experience of the '70s provides a clear lesson: If you back off inflation too soon, inflation comes back stronger, requiring the Fed to do even more, with even more damage," he added. "That's not a risk I want to take."— Jeff CoxFederal Reserve Governor Christopher Waller on Friday vowed that the central bank would not back down in its efforts to bring down inflation.
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