2-year Treasury yield climbs as investors assess interest rate outlook

In comments published alongside the rate decision, thethat it would use the break in its rate-hiking campaign to assess the effectiveness of its previous 10 consecutive increases. The Fed began tightening monetary policy in early 2022 with the goal of bringing down inflation.

Investors will now be closely following comments from Fed officials and scanning them for clues about when the potential further rate hikes could be coming, and what the triggers for them would be. St. Louis Fed President Jim Bullard and Fed Governor Christopher Waller are slated to speak Friday. Attention also turned to key reports reflecting the state of the economy. Before this month's Fed policy meeting, many investors had been hoping for rate hikes to be halted as concerns about elevated rates dragging the U.S. economy into a recession had spread.

On Friday, June's preliminary Michigan consumer sentiment report is expected. Markets will remain closed on Monday in observance of Juneteenth.

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