Chicago Fed’s Goolsbee warns of overshooting on rates

Chicago Fed President Austan Goolsbee told the Wall Street Journal that the central bank will have to make sure that the rise in long-term bond yields doesn’t lead to overtightening of capital conditions in the U.S. economy. In an interview published Thursday, Goolsbee said that long rates, more than short rates, can have a “very substantial effect” on the economy. The yield on the 10-year Treasury
TY00,
-0.38%
topped 5% before sliding recently.