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Global bond selloff eases; stock slump extends: markets wrap moneyweb.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneyweb.co.za Daily Mail and Mail on Sunday newspapers.
Perfectly reliable and stable : Fed Chairman Powell unconcerned with inflation as bond yields creep up Print this article
Federal Reserve Chairman Jerome Powell dismissed concerns of inflation, indicating that the central bank would stay the course as bond yields creep up.
Powell told the House Financial Services Committee on Tuesday that the dollar was perfectly reliable and stable in value and emphasized that the central bank s actions were providing accommodative financial conditions and supporting the economy out of the pandemic-induced recession.
After the coronavirus pandemic caused one of the worst market slides in modern history, investors flocked to safe-haven assets like Treasury bonds, causing yields to plummet to all-time lows the 10-year Treasury yield bottomed out at just 0.318% in March.
U S dollar edges up amid Powell s dovish comments theuknews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theuknews.com Daily Mail and Mail on Sunday newspapers.