Federal Reserve Bank of Minneapolis President Neel Kashkari said he wasn’t yet convinced that a surge in long-term Treasury yields would lessen the need for further rate hikes, saying it depends on what is driving the recent rise in borrowing costs. “It’s certainly possible that higher long-term yields may do some of the work for us in terms of bringing inflation back down,” Kashkari said Tuesday during a town hall event hosted by Minot State University. “But if those higher long-term yields are higher because their expectations about what we’re going to do has changed, then we might actually need to follow through ... (full story)