Update: US Equity Indexes Trade Mixed, Treasury Yields Jump After Warsh Reiterates Inflation Commitment

12:50 PM EDT, 08/28/2026 (MT Newswires) -- (Updates with index/price moves and geopolitical news from the first paragraph.) US equity indexes traded mixed, while government bond yields advanced after Federal Reserve Chairman Kevin Warsh said inflation is the more concerning part of the central bank's dual mandate, recommitting to the 2% inflation goal. The Nasdaq Composite fell 0.4% to 26,444.1, and the S&P 500 slipped 0.1% to 7,722.2 after midday Friday. The Dow Jones Industrial Average rose less than 0.1% to 53,580.2. Speaking at the annual Jackson Hole Economic Policy Symposium, Warsh, as expected, did not offer any change to the monetary policy outlook but strongly reaffirmed his commitment to the Fed's mandates while offering little guidance on the timing of rate changes. "The Fed's price-stability objective of 2%, as measured by the personal consumption expenditures price index, is a firm, fixed target," Warsh said. "Let's be equally clear about another aspect of the objective: Price stability is not self-executing, nor is inflation necessarily mean-reverting. It is the Fed's job to deliver stable prices." US Treasury yields rose after midday. The 10-year yield climbed five basis points to 4.72%, and the two-year soared 10.5 basis points to 4.34%. Meanwhile, mediators in the Iran war are stepping up efforts to get the Strait of Hormuz reopened, with Tehran agreeing to draw up a list of conditions to restore normal traffic after a Qatari emissary pressed the Iranians to respect freedom of navigation, Reuters reported. The front-month US West Texas Intermediate crude oil contract slipped 0.4% to $83.20 per barrel, and global benchmark North Sea Brent edged down 0.4% to $89.35 per barrel.