Protracted inflation? Investor says 'We don't think so'

STORY: The U.S. two-year Treasury yield hit its highest in 15 years on Monday as investors repositioned for an extended period of aggressive interest rate hikes by the Federal Reserve following Chair Jerome Powell's hawkish speech on Friday.

The Fed will continue to raise rates in a bid to curtail inflation even as those rate increases cause pain for households and businesses, Powell said on Friday, in his bluntest language yet on the hiking-cycle.