NY Fed President Williams' Speech Highlights Rising Treasury Yields and Persistent Inflation Concerns

New York Federal Reserve President John C. Williams delivered a speech today, against a backdrop of rising Treasury yields, with the 10-year yield reaching its highest level since 2007. The speech underscored market expectations for further Fed rate hikes, following the September 16th increase to 3.75%-4.00%. The Fed's latest projections indicate that inflation is not expected to return to 2% until 2029.