End of Fed Rate Hikes Signals Economic Stability

The Federal Reserve may be finished with its program of rate hikes as market moves are starting to tame inflation. The yield on the 10-year Treasury bond is close to a 20-year high, affecting long-term rates. Fed Vice Chair Philip Jefferson emphasized the need for caution, and the estimated chance of a rate hike at the next meeting dropped. Federal Reserve Bank of Atlanta President Raphael Bostic stated that inflation is slowing, and policymakers suggested that the key interest rate is at or near its peak.