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Fed chair Jay Powell's war against inflation is still far from victory

Posted on AllSides October 19th, 2023
From The Center

Treasury bond yields continued rising as Federal Reserve chairman Jerome Powell signaled the central bank would hold interest rates steady at its next policy meeting. But before declaring victory over inflation, he cautioned “there may still be meaningful tightening in the pipeline.”

The 10-year Treasury yield neared 5% for the first time in 16 years, while the 30-year yield hit 5.1%. Yields have now risen for four straight days.

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