NY Fed economists weigh in on yield curve control debate

New York Fed
Photo: Flickr/Jazz Guy

The jury is still out on how effective the Bank of Japan’s attempt to control the yield curve has been, but the tool has at least enabled it to exert control over yields without resorting to large-scale interventions, according to research by two Federal Reserve Bank of New York economists.

Matthew Higgins and Thomas Klitgaard join an ongoing discussion among Federal Open Market Committee members about how to strengthen the Fed’s forward guidance signalling.

Policy-makers discussed yield curve

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