sign up for the new economy daily newsletter follow us economics and subscribe to our podcast federal reserve chairman jerome powell and his colleagues appear to be winning over investors with the argument that the current surge in consumer prices won’t last  when news broke that us inflation climbed to 5 in may for the first time since 2008 yields on the key 10year treasury note moved in the opposite direction  falling to a threemonth low of 143 on thursday before rising back up a bit early friday and while bondmarket gauges of expected inflation edged upward they remained well short of this year’s high reached in may