Federal Reserve Bank of Minneapolis Governor Kashkari downplayed market concerns about rising US Treasury yields, saying that the market is running well. Kashkari said that current treasury bond yields are high compared to recent historical levels, but they were significantly higher in the 90s of the last century. Kashkari expressed concern that inflation will not fall back to the target level in the short term, but did not clearly state that he would advocate raising interest rates at the September meeting.

Federal Reserve Bank of Minneapolis Governor Kashkari downplayed market concerns about rising US Treasury yields, saying that the market is running well. Kashkari said that current treasury bond yields are high compared to recent historical levels, but they were significantly higher in the 90s of the last century. Kashkari expressed concern that inflation will not fall back to the target level in the short term, but did not clearly state that he would advocate raising interest rates at the September meeting.