Will Janet Yellen Pull the Trigger? | Andy Constan
Forward Guidance
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Janet Yellen's Lever to Adjust Bond Issues
Janet Yellen can literally choose to use whatever she wants by shifting the quantity of bills she issues versus bonds. Bills don't hurt assets and are funded by the RRP, but Bonds do hurt assets and is funded by the marketplace. And no one knows whether she used that lever. I am certain that she knows she has it. The odds are she won't pull the lever. But if she does, that'll be a surprise.
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