finance
Kevin Warsh Faces Highest 10-Year Treasury Yields at Swearing-In Since 1987
Kevin Warsh will take the oath of office as Federal Reserve chair on a day when 10-year Treasury yields stand at their highest level for any incoming chair since Alan Greenspan in 1987. The data point places the start of his term in a period of elevated long-term borrowing costs.
May 22, 5:05 AM·1m read1 source
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Kevin Warsh is set to be sworn in as Federal Reserve chair on a date when 10-year Treasury yields are higher than on the swearing-in day of any previous chair since Alan Greenspan took office in August 1987. The comparison covers every Federal Reserve chair appointed after Greenspan.
It measures the prevailing yield on the benchmark 10-year Treasury note at the moment each new chair assumed the role.
10-year Treasury yields reflect market expectations for longer-term interest rates and inflation. Higher yields at the start of a chair's term indicate elevated borrowing costs for the government, businesses, and households. The historical benchmark begins with Greenspan's August 1987 swearing-in and runs through all subsequent chairs. No earlier data points are included in the comparison.
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