Sept 25 (Reuters) – Federal Reserve Bank of Cleveland President Beth Hammack said on Friday that surging bond yields are not being pushed up by inflation fears.
When it comes to the jump in government bond yields, “it’s real rates that have moved up more than the inflation expectations,” Hammack said at a conference at her bank.
“We’re reasonably well anchored from an inflation expectations perspective” and rising bond yields reflect a solid economic outlook, competition for investor cash due to strong tech sector investment, as well as market participants adjusting prices to deal with the monetary policy outlook, the official said.
(Reporting by Michael S. Derby; Editing by Chris Reese)
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