Waiting on the Fed and TreasuryThe Fed hasn’t budged on interest rates since July, and it’s expected to stand pat again today.
Still, an anxious Wall Street will be closely watching for any change in the central bank’s higher-for-longer strategy on rates, including the possibility of a new increase as soon as next month.
Before Jay Powell, the Fed chair, speaks this afternoon, the Treasury Department will take center stage.
But this Treasury update comes against a backdrop of big tensions in the bond market.
Yields on 10-year Treasury notes jumped to a 16-year high last month as investors dumped bond holdings, sending borrowing costs higher for consumers and businesses.
Persons:
Wall, Jay Powell
Organizations:
Fed, Treasury, Treasury Department