Treasury yields rise ahead of Fed policy verdict
moved 1 basis point higher to 1.8301%. Yields move inversely to prices and 1 basis point is equal to 0.01%.The Fed is set to wrap up its two-day December policy meeting on Wednesday afternoon, with Chairman Jerome Powell due to hold a press conference afterwards at 2:30 a.m. ET.
The U.S. central bank is expected to announce that it will speed up the tapering of its bond-buying program, as inflation continues to rise. The producer price index, which is one measure of inflation, saw a hotter-than-expected November reading on Tuesday. The PPI showed a year-on-year increase of 9.6%, which was the fastest pace on record and higher than the 9.2% increase forecast by economists.predicts the Fed will double the pace of the taper to $30 billion at its December meeting, which would roughly end the $120 billion in monthly asset purchases by March.
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