Treasury yields dip as Powell reiterates cautious rate-cutting stance to Congress
Publishing timestamp: 2024-03-06 12:52:30
Summary
Treasury yields traded lower as investors digest Powell's testimony, indicating Fed is not quite ready to cut rates. Powell reiterated that lowering rates too quickly risks losing battle against inflation and likely having to raise rates further. Fed officials are looking for more data evidence that inflation is easing toward 2% target before making any policy decisions. Markets were last pricing in rate cuts to begin in June.
Sentiment: NEUTRAL
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Source: https://www.cnbc.com/2024/03/06/us-treasury-yields-investors-look-to-powell-testimony.html