Federal Reserve Chairman Change and the Bond Market
February 8, 2018
Janet Yellen, Chairman of the Federal Reserve stepped down from office last week. President Donald Trump replaced her with Federal Governor Jerome Powell. Powell has a big job ahead of him with hints of inflation reportedly creeping into the economy. Last week the Fed announced that wage related inflation may be increasing. The bond market has been volatile for the past two weeks with a range of 2.71-2.88%. The 10-year Treasury closed today at 2.828%, and many experts believe that 3% is right around the corner.