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Report: Bessent informs Japanese officials of the need for interest rate hikes.

Stocks in Asia are set to follow Wall Street lower as renewed geopolitical tensions lifted oil prices, reviving inflation concerns and the prospect of further monetary tightening.

Renowned Economist Argues That the Fed Should Raise Interest Rates in September

JPMorgan Chase’s trading desk is shifting to a “tactically cautious” view on US stocks for the next few weeks after hawkish remarks by Federal Reserve Chairman Kevin Warsh led markets to boost bets on interest-rate hikes this year.