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>> FEDERAL RESERVE SYSTEM Latest News

JUL 04, 2013 - New Statesman

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Why the US bond market matters

Felix Martin's "Real Money" column.On 22 May, Ben Bernanke, the chairman of the board of governors of the US Federal Reserve, made what must have seemed to innocent observers an innocuous remark: he suggested that the era of nearzero interest rates in the US could not last for too much longer and that the Fed might begin to wind down its policy of quantitative easing (QE) later this year. The reaction of the world’s financial markets was swift and dramatic. First, the interest rate on US government bonds jumped. Then the world’s currency markets went haywire. The US stock market ... Read More

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