WARSH APPEARS COMFORTABLE ALLOWING MARKETS TO TIGHTEN FINANCIAL CONDITIONS, WITH HIGHER REAL YIELDS AND A LARGER TERM PREMIUM WEIGHING ON AC
WARSH APPEARS COMFORTABLE ALLOWING MARKETS TO TIGHTEN FINANCIAL CONDITIONS, WITH HIGHER REAL YIELDS AND A LARGER TERM PREMIUM WEIGHING ON ACTIVITY WITHOUT AN ACTUAL RATE INCREASE, THOUGH THIS CREATES A FEEDBACK LOOP WHERE MARKETS DEMAND MORE YIELD COMPENSATION BECAUSE THE FED HAS DECLINED TO ACT DIRECTLY, AS THE JULY FOMC SAW EXPECTED POLICY RATES BARELY CHANGE YET TERM PREMIUM RISE.
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