In the past week multiple Fed officials have said the rise in bond yields are about "equivalent" to a rate hike, as San Francisco Fed President Mary Daly
The two reports are at the center of why the Fed has been hiking its benchmark interest rate since March 2022. A hot post-pandemic labor market and stimulus-loaded consumer wallets contributed to soaring prices. With inflation headed to a 40-year high, the Fed began raising rates to try to restore price stability.
"If it costs more to borrow, private sector actors are going to borrow less," Daco said. "They're going to invest less. They're going to spend less, and in turn, that reduced activity then weighs on inflation, because if you have less demand, then you in turn have less inflationary pressure. Allen Weisselberg, Trump's loyal ex-CFO, calls tripling the size of Trump's penthouse in financial records a 'minor' mistake
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