Boston Federal Reserve President Eric Rosengren says weak bond yields in other countries are hurting U.S. long-term bond yields.
A top official at the U.S. Federal Reserve said Tuesday that weak bond yields in other countries are hurting U.S. long-term bond yields. Still, Boston Federal Reserve President Eric Rosengren expects Treasurys to eventually start inching higher.
Rosengren added that if his forecast for America's economic growth of between 2 to 2.5 percent for the rest of the year pans out, and the U.S. starts to hit its inflation target, then the 10-year yield"will go up a little bit from where it is now." Rosengren also said that the situation facing the U.S. economy now is different from the past when the Fed would aggressively raise rates to subdue rising prices.
The U.S. central bank's Federal Open Market Committee indicated in a post-meeting statement it would remain"patient" before adopting any further rate increases.
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