The bullhawks are everywhere today as rate hike warnings build. John Kehoe leads us off:
Global investors are positioning for higher central bank interest rates as firming US inflation and robust consumer spending pushed the yield on the two-year US Treasury bond above 2 per cent for the first time since the 2008 global financial crisis.
US Federal Reserve officials and economists on Wall Street ramped up warnings that the accelerating US economy might overheat as President Donald Trump’s tax cuts kick in, setting the scene for the Fed to steadily raise interest rates in 2018.
