Nasdaq futures rose 0.7 per cent in Asian hours while European futures were 0.3 per cent higher. Warsh noted that bond yields had risen notably since the Fed’s last policy meeting, reflecting market expectations of higher interest rates. He welcomed the move, while stressing that it did not oblige the Fed to validate those expectations with policy action. “The Fed is likely to face ongoing questions around its credibility,” said Kerry Craig, global market strategist at JP Morgan Asset Management. A new chair faces a divided committee and a bond market that’s starting to question the central bank’s resolve.”