Surging Treasury yields pose dilemma for Kevin Warsh and the Fed

Treasury yields kept climbing Thursday as investors weighed inflation above the Fed's 2% target, rising energy prices and debt from an AI hyperscaler spending boom. Fed officials now fear more durable inflation after looking past supply shocks, while the central bank no longer telegraphs policy moves. That leaves Kevin Warsh and the Fed balancing growth against markets that expect a tougher inflation stance.