Fed must clarify future of QE, IMF says

Tobias Adrian
Photo: John Harrington

The Federal Reserve’s lack of clarity on future asset purchases is pushing US Treasury yields higher, with important global effects, the International Monetary Fund warned.

The IMF warning came in a note authored among others by Tobias Adrian, director of the fund’s monetary and capital markets department. The note argues uncertainty about the Fed’s quantitative easing programme, and US fiscal policy pushed yields on 10-year Treasury sharply higher earlier in 2021.

The nominal yield on the

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