U.S. Treasury yields ticked up Wednesday after the latest Federal Reserve meeting minutes suggested a lack of confidence by policymakers that they will be able to lower interest rates anytime soon.
The 10-year Treasury yield rose one basis points to 4.426%, while the 2-year Treasury yield was last at 4.873%, up nearly 4 basis points.
Yields and prices move in opposite directions and one basis point equals 0.01%.
Fed officials at their most recent April 30-May 1 policy meeting grew more concerned about the lack of progress on inflation, according to minutes released Wednesday. The minutes showed a willingness from “various participants” to hike rates if inflation didn’t keep moving lower toward the Fed’s 2% goal.
The meeting minutes come after a series of Fed officials this week urged patience when it comes to rate cuts as inflation remains above the Fed’s 2% target.
Fed Governor Christopher Waller on Tuesday said he would need to see…
