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News and opinion for Michigan, Eaton County, and the Mulliken area

American2Day

News and opinion for Michigan, Eaton County, and the Mulliken area

Money

Markets raise odds of a near-term Fed rate hike

A2D News Desk

U.S. stocks slipped Friday as investors weighed signs that the Federal Reserve may raise interest rates soon to curb high inflation. The S&P 500 fell 0.3%, the Dow was down 0.1% and the Nasdaq declined 0.6%.

Treasury yields rose after Fed Chair Kevin Warsh said short-term interest rates remain the central tool for controlling inflation. Traders put the odds of a rate hike as soon as next month at nearly 58%, up from 35% a day earlier.

The two-year Treasury yield climbed to 4.35% from 4.22% before the speech, while the 10-year yield rose to 4.72%. Higher borrowing costs can slow economic activity and weigh on investment prices.

Read the full story at guardonline.com.

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