The sell-off on US Treasuries continues, with yields testing new highs since 2019. 10-year rates have also exceeded the 2.40% threshold, continuing to discount the effect of the statements of the Fed’s number one, Jerome Powell, and climbing up to 2.41%.
In a speech to the National Association for Business Economics, the head of the Federal Reserve said he will do everything possible to ensure price stability.
Powell said “the job market is very strong, and inflation is too high.” Consequently, “we will take the necessary measures to ensure the return of price stability”.
“In particular – he continued – if we come to the conclusion that it will be appropriate to proceed more aggressively, raising the rates on fed funds more than 25 basis points in the course of one or more meetings, we will do so. And if we establish that there will be. need to take more restrictive measures, we will do that too. “