Invesco QQQ (QQQ): ETF Research Reports After months of refraining from action — when it considered inflation a year ago “transitory” — the Fed has ratcheted up rates a quarter point in March, half-point in May, and two 75 bps hikes in June and July. All this talk about 4%+ bond yields will likely start to draw attention on its own, especially as long-reliable industries in equities like Tech continue to suffer in our current environment (we already recognize this as “bad news”).