Treasury bond yield inversion signals economic pain

Hawkish comments by Federal Reserve Chairman Jerome Powell about efforts to tame inflation have deepened the inversion of the bond yield curve for U.S. Treasury securities, which many on Wall Street have come to view as a leading indicator of an upcoming recession.

Powell delivered the Fed’s semi-annual update to Congress on monetary policy this week and told lawmakers that the central bank will need to raise interest rates higher than previously expected because inflation has remained persistently high despite a series of rate hikes amid strong econom