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By Staff Reporters
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“Restoring price stability will take some time and requires using our tools forcefully to bring demand and supply into better balance,” the FOMC’s Jerome Powell cautioned Friday in Jackson Hole, Wyoming.
U.S. Treasury bond yields spiked higher today, lifting yields on benchmark 2-year notes to the levels last seen prior to the global financial crisis, as investors re-set interest rate expectations in the wake of Fed Chair Powell’s hawkish Jackson Hole address.
Powell’s pledged to “forcefully” use the Fed’s tools to bring down inflation, alongside a warning that doing so will bring “some pain to households and businesses” in the world’s largest economy, caught many in the bond market by surprise Friday, given that the Fed’s preferred measure of inflation continues to show consistent moves to the downside.
The core PCE Price Index recorded its first monthly decline in more than two years in July, according to data published Friday, suggesting consumer price pressures are beginning to ease amid tumbling gas prices and an improving labor market.
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CITE: https://www.r2library.com/Resource/Title/082610254
FINANCIAL PLANNING: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283
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Filed under: Alerts Sign-Up, Glossary Terms, Investing | Tagged: bonds, FOMC, inflation, Jerome Powell, Treasury Yields Spike, UPDATE: Treasury Yields Spike As Bond Markets Re-Set |
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