Futures little changed following Fed's hawkish stance

By Reuters

U.S. short-term government bond yields rocketed to their highest in 23 months after the Fed stuck to plans for a rate hike in March and Chair Jerome Powell warned that inflation may be more persistent than previously thought. Fed funds futures showed traders pricing in as many as five rate increases by December, after previously fully pricing for four. The U.S. said on Wednesday it faced challenges in finding alternative energy sources to Europe if Russia invades Ukraine and energy flows from Russia are interrupted.

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