2d ago
Warsh’s hawkish Fed debut pushes Treasury yields higher, weighing on U.S. stocks
New Federal Reserve Chair Kevin Warsh said at his first press conference that inflation has remained above target for five years and signaled near-term rate hikes to curb prices. Treasury yields jumped in response, putting pressure on U.S. equities, even as other risk-friendly factors emerged including progress in Iran talks, stronger Asian markets and lower oil prices. The remarks were seen as a meaningful policy shift for rate-sensitive assets.