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Surveillance: Hyman's Fed Forecast
Bloomberg Surveillance
The Fed's Aggressive QT Policy
We're roughly at what you might expect to be a normal real yield on 10-year treasuries. We think it's going to be very difficult for the Fed to get inflation below 3%, and we've already got expectations below 3%. If they were serious about bringing inflation in line with long-run targets, they would have reduced the balance sheet at probably three times the pace they're going.
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