The Treasury market can no longer stand on its own, and the Federal Reserve might need to provide support for the foreseeable future, said Randal Quarles, vice chair for supervision at the central bank. The Fed has been lifting the market since March to keep liquidity flowing and ensure stability through the coronavirus pandemic and nationwide recovery. Purchases of roughly $80 billion of Treasurys a month have kept yields low even as unprecedented relief spending spikes the US budget deficit and brings a flood of new debt to market. Yet economists fear what may happen when the central bank slows its pace of buying. ... (full story)