[Federal Reserve's Kashkari Downplays Concerns Over Rising U.S. Treasury Yields, Says Bond Market Still Functioning Normally] BlockBeats News, August 24: Federal Reserve's Kashkari downplayed market concerns about the rise in U.S. Treasury yields, stating that the market is functioning well and the recent surge is unlikely to influence monetary policy discussions. Kashkari said on Sunday: 'All indications suggest that the U.S. Treasury market is operating normally, trades are proceeding as usual, and market liquidity is sufficient. Therefore, we can continue to use the federal funds rate as the primary policy tool to reduce inflation.' Last week, yields on U.S. Treasuries across various maturities rose, with the benchmark 10-year Treasury yield closing at around 4.73%. The 30-year Treasury yield remained near its highest level since 2007. Kashkari noted that while current Treasury yields are relatively high compared to recent historical levels, yields in the 1990s were significantly higher. 'We need more data, but I don’t want to prejudge the outcome of the next meeting. However, I currently do not believe inflation will return to target levels in the short term.' [Original Link]