The U.S. Federal Reserve intends to shorten the duration of bonds it has on its ...
FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Millis/File Photo
He made a reference to the Fed’s 2011 Operation Twist, in which the central bank sold shorter-dated Treasuries to buy longer-term paper in a bid to bring down interest rates and stimulate the economy, as a possible future option. Harker, who participates in Fed policy discussions but does not have a vote until next year, added that any shift in the duration of the Fed’s balance sheet would take “quite a while” and there has been no decision yet on how to proceed.
The Fed last week abandoned projections for any interest rate hike this year and expectations for future rate hikes shifted down by one of the biggest margins since the bank started publishing its so-called ‘dot plot’ of forecasts for the federal funds rate.
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