Fed Latest: Paper Finds Deficits Risk Mounting Treasuries Stress.

Kganyago Says Job "Not Yet Done" to Defeat Inflation (11:20 a.m. NY) South Africa's central bank governor warned that there are still risks to inflation, even as he acknowledged that the rate has come down significantly. (Bloomberg) -- Escalating federal borrowing needs may worsen structural deficiencies in the market for US Treasuries that were already on stark display during the 2020 Covid crisis, according to a paper presented to the Federal Reserve Bank of Kansas City's economic symposium. In a speech earlier, Fed Chair Jerome Powell said the US central bank is prepared to raise interest rates further if needed and intends to keep borrowing costs high until inflation is on a convincing path toward the Fed's 2% target. [Extracted from the article]