Federal Reserve Governor Christopher Waller said the surge in long-term US Treasury yields is helping to curb demand in interest-rate-sensitive sectors such as housing and automobiles, doing some of the work of tighter monetary policy. In a conversation with Bloomberg's Saleha Mohsin at the Bloomberg's New Economic Forum, Waller said higher yields are "doing a little bit of the work" of tighter monetary policy, although that isn't the Fed's intention. 

Federal Reserve Governor Christopher Waller said the surge in long-term US Treasury yields is helping to curb demand in interest-rate-sensitive sectors such as housing and automobiles, doing some of the work of tighter monetary policy. In a conversation with Bloomberg's Saleha Mohsin at the Bloomberg's New Economic Forum, Waller said higher yields are "doing a little bit of the work" of tighter monetary policy, although that isn't the Fed's intention.

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 Fed’s Christopher Waller Talks Higher Yields, Inflation

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/c542fe3d-35a4-4f4a-9bb3-b4e200f4bc29/transcript