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The Fed hiked its benchmark interest rate by a quarter percentage point in September, and most Fed watchers expected that to be the first of a series of rate hikes intended to bring inflation closer to the Fed's 2% goal.
That said, the two-year yield remains well above the Fed's current rate, suggesting bond investors expect that rate to rise eventually.
Fun fact: Matt has met every Federal Reserve Chair from Paul Volcker through Jerome Powell.
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