(Bloomberg) -- Wall Street traders sent short-term yields sharply higher as Federal Reserve Chair Kevin Warsh vowed to bring inflation to the target, boosting bets on a rate hike and stabilizing longer-dated bonds.

Bond market pressures Fed Chair Warsh to address inflation. Pause in rate hikes at next three meetings now at 65% YES.

Fed Chair Kevin Warsh delivers his first Jackson Hole address as 30-year yields top 5.2% and US inflation stays above target for a fifth straight