Forward Guidance cover image

Will Janet Yellen Pull the Trigger? | Andy Constan

Forward Guidance

00:00

The Fed's Mortgage Problem

Unlike in 2018, the maturity profile of the fed's treasury holdings now is shorter duration. So if the fed wants to get some mortgages off its books, it's going to have to sell mortgages actively instead of letting them expire. The big issue is that every bond that rolls off ultimately results in the US treasury issuing something that itself is a bond and they don't have the treasury there to buy it.

Transcript
Play full episode

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!
App store bannerPlay store banner
Get the app