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The Fed Will Soon Embrace Yield-Curve Control
The Federal Reserve might not be ready to explicitly target yields on U.S. Treasury securities to keep them from rising and hindering the economic recovery, but that doesn’t mean it won’t happen. If you believe the Fed will be under continued pressure to do more to support the economy, it’s tough to bet against the eventual adoption of so-called yield-curve control. The central bank last week threw some cold water on the idea that yield-curve control, with the minutes of the June 2020 Federal Open Market Committee meeting revealing that policy makers had some qualms about this potential monetary policy tool. In ... (full story)