The Fed's 'Third Mandate': A New Focus on Long-Term Interest Rate Control
TL;DR Summary
The article discusses how recent comments by Fed officials, particularly Stephen Miran, suggest a potential shift in the Federal Reserve's focus towards actively managing long-term interest rates, beyond its traditional dual mandate of price stability and maximum employment, which could lead to more interventionist policies like quantitative easing or yield curve control.
Topics:business#bond-markets#economy#federal-reserve#long-term-interest-rates#mandate#monetary-policy
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