Federal Reserve Chairman Jerome Powell doesn’t appear ready to stand in the way of a steady and sometimes abrupt rise in bond yields that some observers worry could create headwinds for an economic recovery still struggling to pick up steam.
At a virtual appearance on Thursday, Mr. Powell said the rise in market-set, long-term borrowing costs, which was particularly sharp a week ago, was “notable and caught my attention.” But the Fed leader cautioned against putting too much focus on yield levels alone, noting that when the…
