Investors may be realizing that an interest rate cut is not coming soon as Treasury yields approach 5%U.S. stocks were trading lower Tuesday on concerns about high interest rates after a speech by the Fed chairman and economic data pointing to a growing economy.
Federal Reserve Chairman Ben Bernanke, in a speech Monday morning, said housing could remain a drag on the economy longer than expected. The housing crisis isn't likely to spill over into the broader economy, however.
Bernanke said he expects the economy to grow "at a moderate pace" in future quarters, and reiterated his concerns about inflation.
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