The Globe and Mail reports in its Thursday edition that investors are betting the U.S. Federal Reserve, which has raised interest rates to a 22-year high, may finally be finished. A New York Times dispatch to The Globe reports that top Fed officials have recently indicated that the central bank's effort to cool the economy through higher borrowing costs is being amplified by recent market moves that are doing part of that job for them. Of note, attention has focused on a run-up in interest rates on U.S. government debt, with the yield on the 10-year Treasury bond briefly touching a two-decade high last week. That yield is important because it acts as the market's foundation, underpinning interest rates on many other types of borrowing, from mortgages to corporate debt, and influencing the value of companies in the stock market. Investors have sharply reduced expectations of another rate increase before the end of the year. They see about a one-in-four chance that policy makers could lift rates again. JPMorgan economist Michael Feroli says: "If financial conditions are tightening independent of expectations for monetary policy, [then] that will reduce economic activity. Things change, you change your forecast."