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Bank’s chair pledges to keep up fight against inflation but decision brings fears of a failure to keep pace US government borrowing costs have hit their highest level since 2007 after the Federal Reserve voted to hold its key interest rate steady, feeding fears that the central bank may not move fast enough to tame a rise in inflation. The yield – or interest rate – on the 30-year US Treasury bond rose 14 basis points to nearly 5.24%, a 19-year high, after the Fed announced its decision to hold its main rate at between 3.5% and 3.75% for the fifth meeting in a row. Kevin Warsh, the Fed chair, said the bank would “not waver” in its commitment to tackling rising prices.
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Get set for the working day – we'll point you to all the business news and analysis you need every morning After Wednesday, however, traders put the chance of a rate rise in September at about 57%, according to CME Group’s FedWatch tool.
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Bank’s chair pledges to keep up fight against inflation but decision brings fears of a failure to keep pace US government borrowing costs have hit their highest level since 2007 after the Federal Reserve voted to hold its key interest rate steady, feeding fears that the central bank may not move fast enough to tame a rise in inflation. The yield – or interest rate – on the 30-year US Treasury bond rose 14 basis points to nearly 5.24%, a 19-year high, after the Fed announced its decision to hold its main rate at between 3.5% and 3.75% for the fifth meeting in a row. Kevin Warsh, the Fed chair, said the bank would “not waver” in its commitment to tackling rising prices.
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