10AM Hour: China’s Xi Arrives at White House, Why A Diesel Export Ban Could Make Matters Worse, Fed’s Paulson Signals more Rate Hikes 9/24/26

Multiple Fed officials now lean toward further rate hikes as inflation and Treasury yields climb, even amid a low-deliverable Trump-Xi summit.

• Fed hawkishness building: Philly Fed's Anna Paulson said "some modest further tightening may be warranted," citing underlying inflation of 2.5-3% versus the 2% target; Fed-funds futures now imply 64% odds of a hike, 68% for a second, 55% for a third, with Williams, Barr, Musalem, Collins, Hammack and Schmid all leaning hawkish.
• Bond yields spike: 10-year Treasury yield hit ~5.13%, a multi-decade high; strategist Jim LeCamp called oil, rates and the dollar a "Cerberus" threatening the bull market, though Atlanta Fed GDPNow sees 5% Q3 growth.

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