Fed Officials Want to See Impact of Rising Yields on Inflation Before Considering Further Rate Hikes
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Federal Reserve officials want more time to see if the rise in long-term Treasury yields will help cool inflation.
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Several Fed policymakers said the tightening of financial conditions since July could dampen the economy, though they want more time to assess the full impact.
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Fed Governor Christopher Waller called the yield run-up an "earthquake" for bonds.
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Fed Chair Jerome Powell hinted officials may be done raising rates, citing the rise in yields.
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Officials say it's unclear if yields rose due to a stronger economic outlook or investors demanding more compensation for holding debt.