Fed paper: portfolio holdings have ‘statistically significant’ effect on rates

The US Federal Reserve

A discussion paper published by the US Federal Reserve Board examining the historical composition of the Fed’s balance sheet has found “a statistically significant effect” on interest rates.

In their paper, The Federal Reserve’s Portfolio and its Effect on Interest Rates, Jeffrey Huther, Jane Ihrig and Elizabeth Klee use data from 1985 to 2016 to show that the divergence of the composition of the Fed’s portfolio from overall Treasury securities outstanding is associated with the effect on

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: