Business
Bond Market Won’t Affect the Fed: Kashkari
A Federal Reserve policymaker doesn’t think rising long-term Treasury yields will change how the central bank handles inflation. The upshot from Minneapolis Fed President Neel Kashkari on the chaos of the bond market: Keep things in perspective.
Treasury yields climbed to stratospheric heights this past week. The 30-year yield, went from 4.7% in March to 5.3%—a 19-year high. The 10-year yield had a weekly high of 4.7%, above the mid-3%-to-mid-4% of the past few years.
Kashkari told CBS News’ Face the Nation that 10-year’s 4.7% indeed hasn’t been this high in recent memory, but they’re about the same as they were in the early 2000s. The financial crisis started in 2007 and officially ended a couple of years later.
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