Shorter maturities have been selling off faster than their longer-dated peers this year as investors ratchet up expectations the Fed will hike rates to combat inflation
The Fed last week raised its benchmark interest rate by a quarter percentage point to a range of 0.25% to 0.5% from near zero
The dollar strengthened against a basket of major currencies on Monday, in the wake of comments from US Federal Reserve Chair Jerome Powell
Fed policymakers last week raised interest rates for the first time in three years and signaled ongoing rate hikes ahead
Not all of the Fed's efforts to tighten monetary policy have worked the same way.
The interest rate path shown in new projections by policymakers is tougher than expected, reflecting Fed concern about inflation that has moved faster
Russia's attack has whiplashed financial markets and sent energy and commodity prices surging, with West Texas Intermediate crude hovering around $110 a barrel.
Consumer prices are already rising at their fastest pace in four decades, having jumped 7.5 per cent in January compared with 12 months earlier
Powell called the Russian invasion of Ukraine 'a game changer' that could have unpredictable consequences
The Dow Jones Industrial Average was up 2.13% at 34,004.63 points, while the S&P 500 gained 2.17% to 4,399.6
The remarks on Friday by Governor Lael Brainard and New York Fed President John Williams, as well as Chicago Fed chief Charles Evans, showed officials eager to get tightening under way
Powell will deliver his regular semiannual monetary policy update to the US House Financial Services Committee on March 2 and appear before the Senate Banking Committee on March 3
The US Federal Reserve Board has named Jerome Powell as "chair pro tempore", pending his confirmation by the Senate for a second term as Chair of the central bank
Consumer prices rose 7% last near--more than twice the central bank's 2% goal--cheapening American wages and eating into household budgets.
While investors have dealt with a tightening Fed before, it's been a long time since they've had to confront one that's been anything less than transparent in its intentions
The dollar was in the limelight even as broader currency markets quietened somewhat after an eventful week in global markets punctuated by a hawkish Federal Reserve meeting
Federal Reserve chair Jerome Powell unleashed bets on five or more hikes this year after he left the door open to raising rates faster than in previous cycles
SHANGHAI (Reuters) - Asian shares plunged to their lowest in nearly 15 months, short-term U.S. yields hit 23-month highs and the dollar strengthened on Thursday after the Federal Reserve's chairman signalled plans to steadily tighten policy.
The greenback hit a two-month top of $1.1220 per euro and held gains at 114.62 yen
Central bank signals likely to raise rates in March; stocks slide into negative territory after Powell remarks