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DAX Edges Higher Despite Fed Worries
(RTTNews) - German stocks rose on Friday, though the upside remained capped by hawkish comments from more U.S. Federal Reserve officials.
St Louis Fed President James Bullard said the central bank needs to keep raising interest rates as its tightening has only 'limited effects on observed inflation'.
Separately, Minneapolis Fed Bank President Neel Kashkari said the U.S. central bank should not stop rate hikes until it's clear that inflation has peaked.
The benchmark DAX rose 62 points, or 0.4 percent, to 14,328 after edging up 0.2 percent in the previous session.
Lender Commerzbank gained 1 percent and peer Deutsche Bank added half a percent as the European Central Bank begins the biggest withdrawal of cash from the euro zone's banking system in its history.
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