The Weekly Wrap: What We Learned About Jerome Powell, the Political Fed Chair
\n\nWelcome back to Friday. This is the Breitbart Business Digest weekly wrap.
\n\nThis week bond yields fell, sparking mumbled warnings about looming calamity from the same folks who warned us of the calamity of rising bond rates. Oil prices shot up to close to their highest levels since the Iran War began. The market decided it knows exactly what Fed Chair Kevin Warsh and the rest of the Federal Open Market Committee are going to do next week. And a centrist liberal Harvard economics professor learned something important about tariffs in Bangkok.
\n\nIt seems like it was only yesterday that the financial press was obsessed with the idea that rising bond yields spelled trouble for the U.S. economy. But, in reality, that was like two weeks ago. Now it is falling bond yields that spell trouble.
\n\nOn October 7, the yield on 10-year U.S. Treasuries hit 5.36 percent, the highest since April 2002. There were dire warnings that bond investors were balking at inflation risks and deficits, even though almost all of the rise appeared to be due to rising real yields. That is, bond yields were…
Original source: https://www.breitbart.com/economy/
