A man wearing a face mask walks past the U.S. Federal Reserve in Washington, D.C., the United States, on Dec. 2, 2020.
Liu Jie | Xinhua News Agency | Getty Images
The U.S. Federal Reserve won’t step in to temper rising inflation any time soon, market watchers have said, despite surging yields that have roiled global stock markets.
Stocks have been tethered over the past week to rising Treasury yields and the possibility that the Fed will tighten monetary policy to tackle an expected rise in inflation.
On Thursday, Fed Chairman Jerome Powell acknowledged that “some upward pressure on prices” could occur as the economy reopens, noting that he expects the central bank to be “patient” on policy…