Yields have been rising recently over concerns about inflation, amid economic recovery from the coronavirus pandemic. However, the Federal Reserve indicated in its March policy meeting that it would let inflation run above its long-range target of 2%, if it helps achieve full employment. Minutes from the Fed's March meeting, released on Wednesday, confirmed that it would keep its accommodative policy in place until economic "outcomes" were achieved. Sarah Hewin, head of research for Europe and Americas at Standard Chartered Bank, told CNBC's "Squawk Box Europe" Thursday that it seemed as though the Fed had factored in some of the improvements seen in the economic data since that last meeting.