Nikkei 225 climbs 1.44% as Kospi rises 0.93% after Fed lifts 2025 median rate view to 3.8%

The Federal Reserve kept rates unchanged after its first policy meeting under Chairman Kevin Warsh, but its dot plot lifted the median 2025 year-end rate estimate to 3.8% from 3.4% projected in March. Warsh offered no personal rate forecast and said policymakers remain committed to restoring price stability after inflation stayed above the 2% target for several years. U.S. stocks fell sharply, with the Dow down 0.98%, the S&P 500 off 1.21% and the Nasdaq lower by 1.34%. Asian markets opened higher but later faced pressure as Treasury yields jumped and expectations for tighter global policy grew.