Warsh Faces Yields, a Treasury Rescue and Inflation at Jackson Hole
The Treasury will double buybacks to $4 billion as long-term yields approach 5%, easing a sell-off before Kevin Warsh speaks.
5 Articles
5 Articles
Warsh faces yields, a Treasury rescue and inflation at Jackson Hole
Federal Reserve Chair Kevin Warsh delivers his first Jackson Hole address on Friday with long-term borrowing costs elevated, inflation above target and the US Treasury already intervening in bond markets to do what monetary policy has not.
What to remember: The Treasury's intervention in the bond market upsets the Fed's fight against inflation. Several leading investors consider the manoeuvre counter-productive. Kevin Warsh speaks on Friday to Jackson Hole in a context of increased pressure. Scott Bessent's intervention in the bond market shoots in the opposite direction the Federal Reserve's fight against inflation, warns large investors on the eve of Kevin Warsh's speech to Jack…
Market search for clues about how policy makers plan to navigate in a scenario in which higher revenues from Treasury bonds can perform monetary tightening work by them
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