Investors know they’ll get tough talk on inflation from the Chairman of the Federal Reserve Jerome Powell last week. His speech continues to rock the debt markets.
After a weekend of deliberation Mr. Powell’s Friday presentation At the Fed’s Jackson Hole conference, traders on Monday made bets that the Fed would raise rates aggressively in 2023 to bring down inflation. Treasury yields rose, market-based inflation projections hit their lowest levels of the year, and any hopeful signs of a quick Fed turnaround are dimmed.
