Economy
Saturday, 6/27, 01:50 AM
Kashkari Pencils In a Rate Hike as Inflation Runs Hot — and Bond Yields Drop Anyway
- Minneapolis Fed President Neel Kashkari said he now expects one interest-rate increase by year-end, reversing an earlier call for a cut, as inflation runs well above target.
- Yet long-term bond yields have been falling — a puzzle that says as much about the Fed's new credibility as about the data.