2-year Treasury yield jumps as Warsh says Fed may 'have work to do'

Investors assessed Federal Reserve Chair Kevin Warsh's hawkish message in his keynote address at Jackson Hole.

2-year Treasury yield jumps as Warsh says Fed may 'have work to do'

TL;DR

  • Short-term Treasury yields, like the 2-year, spiked after Fed Chairman Kevin Warsh's speech.
  • Warsh stated the Federal Reserve still has 'work to do' to bring inflation under control.
  • He expressed that recent inflation data does not indicate a meaningful improvement in underlying trends.
  • The hawkish tone increased the probability of a September interest rate hike to 57.5%.
  • Warsh's comments aim to reassure investors about the Fed's commitment to price stability.

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