Fed officials consider holding rates amid high bond yields
Two Federal Reserve officials signaled keeping rates unchanged at the upcoming meeting as a surge in long term bond yields raises borrowing costs and could slow inflation without new rate hikes. They noted 10 year yields near 4.8 percent, mortgage rates around 7.5 percent, and ongoing worries about inflation and growth.
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Mack Trucks Workers Strike After Rejected UAW Deal
UAW says 4,000 Mack Trucks workers walked out at 7 a.m. joining a broader strike now totaling over 30,000 members across 22 states. Union says 73 percent rejected the tentative contract that included pay rises, a ratification bonus, and healthcare offsets while disputes over schedules pensions and other benefits linger.
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