The price of time went through its old ceiling, and a strait is setting it

On 16 September the Federal Reserve raised its target range by a quarter point to 3.75–4.00%, by twelve votes to none, its first increase since 2023; its statement cited inflation that remains elevated and uncertainty owing in part to geopolitical developments, and CNBC reports that a strong majority of officials see another rise as possible this year. The ten-year Treasury yield touched 5% on 14 September and reached 5.041% the next day, the highest since July 2007. On 18 September the Bank of ...