Oct 14 (Reuters) - U.S. Treasury yields on shorter-dated maturities fell on Friday after remarks from Federal Reserve Chair Janet Yellen at a conference of policymakers and top academics.
Yellen said the Fed may need to run a “high-pressure” economy in order to reverse damage from the crisis that depressed output and sidelined workers. She also said reversing long-term damage might need a more accommodative policy than otherwise, which may suggest the U.S. central bank could provide further monetary policy easing.
Prices turned higher across the board after the release of Yellen’s remarks, paring earlier losses, and yields on 2- , 3- and 5-year notes hit their lowest in at least a week. (Reporting by Dion Rabouin; Editing by Chizu Nomiyama)