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Fed unwavering in message that interest rates will keep going higher

November 9, 2018


The Federal Reserve made clear it sees a near perfect environment to keep raising interest rates and that it was undeterred by recent market volatility.

Strategists viewed the Fed’s post-meeting statement Thursday as slightly hawkish, which means in favor of higher rates. Treasury yields were slightly firmer. The 2-year Treasury note, which most reflects Fed policy, rose slightly, briefly touching a new decade high of 2.97 percent. Stocks waffled after the Fed statement and then moved lower.

“[Fed officials] seem pretty content. No big changes. It’s just more evidence that rates are going up,” said Michael Schumacher, director rates strategy at Wells Fargo.

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