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American2Day

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

American2Day

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

Money

Fed chair signals rates may need to rise as inflation stays elevated

A2D News Desk

Federal Reserve Chair Kevin Warsh said Friday that inflation remains too high and suggested the central bank may need to raise interest rates in the coming months. He said recent cooling in inflation data has not shown a meaningful improvement in underlying trends.

Warsh did not signal an imminent increase at the Fed’s Sept. 15-16 meeting, but his remarks pushed the two-year Treasury yield from 4.22% to 4.30% as investors raised their expectations for higher short-term rates. Higher yields can increase borrowing costs for governments, businesses and households.

The Fed’s preferred inflation measure stood at 3.7% in July, above the central bank’s 2% target. Futures pricing put the odds of a rate hike at the September meeting near even, up from about one-third before Warsh spoke.

Read the full story at Fortune.

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