Asia-Pacific markets set to open mixed as investors look ahead to U.S. jobs report due this week

told CNBC's "Closing Bell" on Wednesday that, as the jobs picture in the U.S. continues to improve, there needs to be considerable progress before the central bank will feel comfortable enough to pull back on all of the help it has provided since the Covid-19 pandemic cut short the longest expansion in U.S. history.interest rates may have to rise to keep a lid on the burgeoning growth of the U.S.

brought on in part by trillions of dollars in government stimulus spending. She later tempered her comments somewhat on the need for higher rates. "Despite constant reassurances from Yellen and an array of Fed officials that the coming increase in inflation will prove 'transitory' ... markets are evidently a bit more worried," Rodrigo Catril, senior foreign-exchange strategist at the National Australia Bank, said in a morning note.

"Options prices indicate that the market a greater than one-in-three chance than US CPI could average more than 3% over the coming five years," he said, adding that strong commodity prices have also helped to lift inflation expectations.

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