May 27, 2020United States
Foreign Treasury sales, including large sales from reserve managers, made the Fed's job harder, not easier, in March.
August 23, 2017Monetary Policy
The world would be in a better place today if the ECB and BoJ had joined the Fed in quantitative easing early on. Their lag in easing contributed to the policy gap that led to the dollar's large 2014…
January 3, 2018China
The ECB has almost certainly had a bigger impact on U.S. rates over the last three years than the PBOC, without buying (or selling) any Treasuries.