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Story summary
- U.S. Federal Reserve (Fed) Chairman Kevin Warsh signaled possible rate hikes, sparking market speculation.
- Investors worried about deficits and inflation lifted the 10-year Treasury yield to 4.79%.
- Markets assign roughly a 60% chance of a hike next week, the first in over three years.
- Warsh said the Fed will not use quantitative easing despite a $6.7 trillion balance sheet, calling later rounds ‘reverse Robin Hood.’
