Asian markets fluctuate as traders weigh US rate outlook

Chicago Federal Reserve President Austan Goolsbee said he still saw three rate cuts this year. Photo: CHIP SOMODEVILLA / GETTY IMAGES NORTH AMERICA/Getty Images via AFPAsian stocks swung through the morning session Tuesday as traders weighed the outlook for US interest rates ahead of the release of a key inflation reading.

While last week's Federal Reserve guidance pointed to three cuts before the end of the year, strong economic data and comments from some central bank officials have fuelled worries it could come up short. "In this context, an 'all-clear' signal would entail the inflation data meeting consensus expectations or coming in lower than anticipated."Atlanta president Raphael Bostic on Monday reiterated his comments Friday that he saw only one cut this year, adding that acting too quickly could be disruptive, while governor Lisa Cook said decision-makers should be cautious.All three main indexes ended down on Wall Street as talk swirls that the recent rally may have been overdone.

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