Odd Lots
Chicago Fed’s Austan Goolsbee Sees ‘Puzzle’ In Recent Rate Spike
“I think the puzzle that people are trying to put together is, well, why did it happen in the last three weeks?”
Austan Goolsbee at the Jackson Hole economic symposium in Moran, Wyoming, US.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
In the two weeks since the Federal Reserve’s September policy meeting, yields on 10-year US Treasuries have climbed more than 50 basis points, topping out at nearly 4.9%. Almost every day, there’s a new “highest since 2007” type of headline in the bond market. So, what’s driving the moves?
Chicago Fed President Austan Goolsbee, in a new episode of the Odd Lots podcast, says the timing of the selloff is something of a “puzzle.”