They must taper to stay in ratio to Treasury issuance. The reduction in front end Treasury debt will complement non existent inflation and slack credit demand. There will be a reduction of Treasury purchases to avoid additional easing but NO TAPER in mortgages.
They must taper to stay in ratio to Treasury issuance. The reduction in front end Treasury debt will complement non existent inflation and slack credit demand. There will be a reduction of Treasury purchases to avoid additional easing but NO TAPER in mortgages.