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US borrowing costs hit 19-year high
The cost of borrowing in the United States has risen to the highest level in 19 years, following the Federal Reserve's decision to keep interest rates steady at 3.5% to 3.75% for the fifth consecutive time, despite calls from some members to raise them to curb inflation. This has led to the 30-year Treasury bond yield increasing to 5.23%, while major stock indices such as the S&P 500 and Nasdaq 100 declined amid concerns over rising energy prices and tensions in the Middle East. Federal Reserve Chairman Kevin Warsh reaffirmed the bank's commitment to tackling inflation and maintaining a 2% target, even as it faces challenges from rising gasoline prices and the impact of tariffs. Investors are closely watching upcoming monetary policy steps.
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