Powell leans hawkish to push Treasury yields higherFriday, Powell said “restrictive” monetary policy is called for to achieve the Fed’s 2% inflation target.
Bringing inflation back to target is expected to “require a period of below trend economic growth as well as some softening and labor market conditions,” the Fed chief added.Treasury yield briefly rising close to the cycle highs of 5.12%.Tech briefly came under pressure from rising Treasury yields, which makes growth sectors like tech with higher valuations less attractive, as Google (NASDAQ:
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