Bond yields advanced Friday ahead of a Federal Reserve Chair Jerome Powell's long-awaited speech, as well as the latest reading of the central bank's...
Bond yields advanced Friday ahead of a Federal Reserve Chair Jerome Powell’s long-awaited speech, as well as the latest reading of the central bank’s preferred inflation gauge.
“We... Bond yields advanced Friday ahead of a Federal Reserve Chair Jerome Powell’s long-awaited speech, as well as the latest reading of the central bank’s preferred inflation gauge. “We expect Fed Chair Powell to emphasize the Fed’s commitment to restoring price stability,” said Bank of America economists led by Michael Gapen.
“We expect the Fed to push back against any notion of a quick pivot to rate cuts. We think Powell is likely to repeat that the Fed will keep policy restrictive until it has clear and convincing evidence PCE inflation is on a path to average 2% over time,” he added.
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