U.S. Treasury yields rose on Friday as investors digested comments from Federal Reserve Chair Jerome Powell and awaited more economic data.

Powell stated that the strong economic growth suggests that the Fed will not rush to lower interest rates, saying, "The economy is not signaling a need for us to quickly lower rates."

After the Fed's recent quarter-point rate cut, expectations for a similar move in December have decreased. The likelihood of a 25 basis point cut at the next meeting has dropped to 62.4% from 82.5% earlier in the day, according to the CME FedWatch tool.

Recent economic indicators show that the consumer price index for October increased by 0.2%, bringing the annual inflation rate to 2.6%. Additionally, weekly jobless claims fell by 4,000 to 217,000, indicating a strong labor market.

Investors are now focused on upcoming economic reports, including retail sales, industrial production, and import prices, which will be released later today.