U.S. markets sell off after Warsh says inflation still too high
Stocks slid and the 10-year Treasury yield settled above 5% for the first time since July 2007 after Fed Chairman Kevin Warsh said inflation remains “too high,” according to WSJ.
Federal Reserve Chairman Kevin Warsh said inflation remains a problem, leaving Wall Street to question how far the Fed will go to deal with it. Stocks fell, and the 10-year Treasury yield finished above 5% for the first time since July 2007 after Warsh spoke.