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International Business Times

Business

Fed Governor Barr Says More Rate Hikes Are 'Likely' Needed. Treasury Yields Reach New 19-Year Highs.

Inflation Kevin Warsh Michael Barr Susan Collins US Federal Reserve

Federal Reserve Governor Michael Barr said more rate hikes are "likely" needed to tame inflation. (Credit: AFP via Getty Images/Saul Loeb)

Bond yields climbed on Friday, with the benchmark 10-year Treasury reaching 5.104%, the highest level since July 2007.

The broader market is in the red after two members of the Federal Reserve anticipated the possibility of further interest rate hikes to tame inflation.

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