Borrowing costs hit a 24-year high; Trump targets Fed's Cook

The 10-year Treasury yield touched 5.35% intraday on Oct. 7, its highest since 2002, as Fed minutes showed most officials expect another rate hike this year. On Oct. 9, President Trump created a committee to hold a Nov. 5 hearing on whether there is cause to remove Fed Governor Lisa Cook over 2021 mortgage applications; Cook denies wrongdoing.