'Today is Less Important than What Comes Next,' Says Federated Hermes
Dow Jones
15 hours ago
The market anticpated today's rate hike. As Fed Chairman Kevin Warsh kicks off his post-meeting press conference, investors will be looking for clues on how many more are coming.
"Treasury yields have already moved sharply higher as investors repriced inflation risk and higher-for-longer rates," said Karen Manna, fixed-income investment strategist at Federated Hermes. "That makes today's 25 basis points less important than what comes next... the bigger signal is whether the Fed believes this is enough or the beginning of more to come."
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