Investors expect the Fed to pause rate hikes in October, but Kevin Warsh's rejection of traditional communications practices and continued concern about inflation leave the decision uncertain.
Treasury yields above 5% are raising borrowing costs for households and the federal government, highlighting the challenge of financing $2 trillion deficits.
The consumer price index was expected to increase 0.6% in September on a monthly basis and 3.6% from a year ago, according to the Dow Jones consensus forecast.