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Story summary
- Federal Reserve Chairman Kevin Warsh’s post-FOMC comments sparked bond-market anxiety, sending 30-year Treasury yields above 5.1% and 10-year yields over 4.65%.
- The Federal Open Market Committee kept the policy rate at 3.5%-3.75% while Kevin Warsh reiterated the Fed’s 2% inflation target and said tightening is occurring through rising long-bond yields.
- Alex Wolf of J.P. Morgan Private Bank said markets doubt the Fed’s willingness to hike because the market is tightening.
