Fed Chair Warsh Cites Economic Strength for Yields
Federal Reserve Chairman Kevin Warsh stated that rising bond yields stem from economic strength and capital competition rather than inflation concerns. He noted that strong capital expenditures and global political factors are driving up credit costs.
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Federal Reserve Chairman Kevin Warsh raised the overnight target rate by a quarter percentage point to between 3.75% and 4% on Wednesday afternoon. The unanimous FOMC vote came as bond yields climbed across the United States.
