"Federal Reserve officials pivoted toward a December interest-rate increase, betting that further job gains will lead to higher inflation over time and allow them to close an unprecedented era of near-zero borrowing costs."
The Federal Open Market Committee dropped a reference to global risks and referred to its “next meeting” on Dec. 15-16 as it discussed liftoff timing in a statement released Wednesday in Washington, preparing investors for the first rate rise since 2006.
“The case for a December liftoff continues to build,” said Ward McCarthy, chief financial economist at Jefferies LLC in New York.
“Even with the weaker data of late, it is hard to make the case that the economy is still in an emergency” that requires rates near zero.
Following aricle: Yields on two-year Treasuries jumped to around 0.70 percent after the news