Randrwithc 18aug20

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Fed’s QE Infinity Suppresses Rates Volatility, But May Not Revitalise The Economy And Inflation

By Peter Cecchini

18 August 2020

In this paper we discuss:

• How the Fed’s QE infinity is suppressing interest rates volatility;
• Why there is little appetite for negative policy rates in the US;
• Why the current low-vol environment is not goldilocks, quite the opposite;
• How the risk of higher yields is wildly underappreciated; and
• Why unlimited ammunition for central banks might not be enough to revitalise the economy and inflation.

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Download PDF: R&RwC Rates, Volatility and the Economy – August 2020

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