Markets closed mixed inAsia, despite Wall Street closing lower on Wednesday, after the Federal Reserve appeared to temper its expectations for U.S. economic growth. The Fed opted not to raise interest rates at its January meeting, as expected, and gave no indication that it was changing course on its rate-hiking path ahead.
But in its post-meeting statement, the Fed tweaked its view of the U.S. economy, noting that growth had slowed, business investment has moderated and inventory investment has decelerated.
The central bank said it was "closely monitoring global economic and financial developments and is assessing their implications for the labor market and inflation, and for the balance of risks to the outlook." The Fed also said inflation was expected to remain low in the near-term due in part to further declines in energy prices but saw the effects as transitory.
Despite the Fed, U.S. stocks opened higher Thursday, however struggled for gains around Europe's close as mixed earnings reports dragged on market performance.