When Fed starts walking back from its extremely stimulative policies

Yet, while not impossible, top Fed officials are yet to show any inclination to contemplate this, let alone embark on it. 

This is not because they are blind to the improving economy and massive fiscal stimulus. 

It is because they are worried that a tightening of financial conditions would destabilise markets and undermine the recovery.

Mohamed El-Erian FT 16 March 2021

https://www.ft.com/content/5e31952b-2b51-4125-a182-477b445602e5


För varje dag som går med nollränta växer problemen

https://englundmacro.blogspot.com/2021/03/for-varje-dag-som-gar-med-nollranta.html


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