The 30-year Treasury yield reached 5.501% on September 24 2026, its highest since June 2004, up from 5.367% on September 15. CNBC reported that the surge had swung Warsh from a nominee who argued for cuts before taking office in May to a chair who has forged a hawkish coalition on the Committee, and that Warsh cited heavy debt issuance and tight credit spreads among the reasons he voted to hike.