Bond investors are demanding higher yields, essentially raising the cost of borrowing no matter what the Fed decides to do in September.
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The yield on 30-year Treasury bonds hit the highest in 19 years after Warsh spoke following the Fed decision to hold interest rates.
Consumer prices jumped 3.5% in June. That’s higher than the Fed’s preferred 2% inflation rate, but lower than the 4.2% May rate.
Wealth managers are keeping an optimistic, but realistic, outlook for the second half of the year.
Kevin Warsh, President Trump’s nominee for Fed chair, wants to make big changes at the central bank. Will he succeed?