The Week in Business: Fed Hawks, Tesla’s Ask, and More
Minutes from the Federal Reserve’s April meeting, which were released this week, showed that the central bank is seriously contemplating hiking the federal-funds rate in June. The news was in keeping with recent public statements by various officials, but it still startled investors. Before the minutes were released, the federal-funds market had been pricing in a five-per-cent chance of a June hike. Afterward, the number jumped to thirty per cent. The yield on ten-year U.S. Treasury bonds also spiked.