Cyprus News Agency

The Federal Reserve’s meeting minutes showed disagreements over the future of monetary policy, leading to a slight rise in Treasury yields on Wednesday.

The 10-year Treasury yield rose more than 3 basis points to 4.087%, while the 30-year yield increased more than 2 basis points to 4.711%. The 2-year yield climbed over 3 basis points to 3.468%.

According to the minutes, policymakers generally agreed to keep interest rates unchanged in January between 3.5% and 3.75%, in line with expectations.

However, participants were more divided on the next steps in monetary tightening.

The minutes noted that some participants believed it would likely be appropriate to hold rates steady for some time.

Fed Chair Jerome Powell had said decisions would be made “meeting by meeting” based on incoming data.

Investors are also awaiting Friday’s release of the personal consumption expenditures price index.