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Tim Duy: Count on the Fed to Take Control of the Yield Curve

Capping rates on some U.S. Treasury securities would be more effective than forward guidance. Given the proximity to the effective lower bound for interest rates, the Federal Reserve is looking to bolster its policy arsenal ahead of the next recession. Watch for the “bond traders’ nightmare” of adding yield curve control to the Fed’s toolkit

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Posted: December 6, 2019 Friday 06:00 AM