NY Fed’s Sack: rise in long-term yields not down to inflation
Brian Sack, the executive vice president of the New York Federal Reserve, on Wednesday said the upward movement in longer-term interest rates in United States reflected greater optimism on the economy and not rising inflation and inflation expectations.
Speaking at an event at the Philadelphia Fed, Sack said: "Since early November, one of the notable developments in financial markets has been the sharp increase in longer-term interest rates. Investors revised up their baseline forecasts for the
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