Fed's Hammack: Confluence of Factors Contributing to Higher Yields
Dow Jones03:35
1535 ET - Cleveland Fed President Beth Hammack says a confluence of factors are contributing to the rise in long-end Treasury yields at an event in Cleveland on Friday. One is growth, as company earnings and profits have exceeded expectations. Hammack also says markets are starting to price in a higher policy path. Additionally, fiscal spending could be a factor, though it is not within the Fed's control. "I'm not breaking any ground to say that the U.S. is on an unsustainable fiscal path," Hammack says.
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