Is the bond market Federal Reserve Chairman Kevin Warsh’s preferred inflation-fighting tool via higher Treasury yields? Although he hasn’t explicitly said he wants long rates to rise to do the heavy lifting for the central bank in taming price pressures, he’s hinted at the possibility in recent comments. If that’s the strategy, the central bank may be comfortable with rising yields as a mechanism for cooling inflation while reducing pressure on policymakers to raise short-term rates and avoid, or at least minimize, the wrath of President Trump, who has demanded that the Fed cut rates.