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PrintTREASURIES-US Treasury yields rise after Fed drops inflation progress language
BY Reuters | ECONOMIC | 01/29/25 02:16 PM EST(Updates after Fed rate announcement)
NEW YORK, Jan 29 (Reuters) - U.S. Treasury yields rose on Wednesday after the Federal Reserve kept interest rates steady and gave little insight into when further reductions in borrowing costs may take place.
After several months in which inflation data have largely moved sideways, the U.S. central bank dropped from its latest policy statement language saying inflation "has made progress" towards the Fed's 2% inflation goal, noting only the pace of price increases "
remains elevated
."
The 2-year note yield, which typically moves in step with Fed interest rate expectations, was last up 4.8 basis points on the day at 4.255%.
Benchmark 10-year yields rose 3.6 basis points to 4.585%.
The yield curve between two-year and 10-year yields was at 33 basis points. (Reporting by Karen Brettell; Editing by Chris Reese)
