Interest rates: Investors fear the US Federal Reserve will abandon three rate cuts this year as chairman Jerome Powell says “we don’t need to be in a hurry”

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Interest rates: Investors fear the US Federal Reserve will abandon three rate cuts this year as chairman Jerome Powell says “we don’t need to be in a hurry”
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The sell-off in US bond markets suggests investors are anxious that stubborn US inflation will force the Fed to opt for “one and done”.

Already a subscriber?US Federal Reserve chairman Jerome Powell can’t say it often enough: the resilience of the US economy means the US central bank hasBut the latest sell-off in US bond markets suggests investors are now fretting the Fed will be forced to scale back its rate-cutting plans in the face of stickier-than-expected inflation, a sturdy US jobs market, and the latest surge in global share and cryptocurrency markets.The yield on benchmark US 10-year bonds finished at 4.

Even though US interest rates are relatively high, US consumers continued to spend at a rapid clip, while the US jobs market has remained robust.Worries that interest rates will remain higher for longer will dampen exuberance in global share and crypto markets. Economists point out that the initial battle against inflation was easy, as pandemic-era supply snarls eased, and commodity prices, especially for energy, fell to more normal levels.

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