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A Dilemma Of The Fed’s Own Making | Danielle DiMartino Booth & Joseph Wang
Forward Guidance
The Fed's Role in the Credit Market
Daniel: What triggered the initial Powell pivot was 41 days of no junk bond issuance starting November the 14th, 2018. He says if mortgage rates rise and people aren't refinancing their mortgages, the duration of those mortgage backed securities extends dramatically. Daniel: I think that it will be incumbent upon the Fed to try and avoid it all costs selling those mortgage backed Securities. You will literally see Elizabeth Warren's head explode," he said.
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