Journal Article
Fed asset buying and private borrowing rates
Abstract: Past rounds of large-scale asset purchases by the Federal Reserve have lowered yields not only on the targeted securities, but also on various private borrowing rates. In particular, yields on corporate bonds and primary mortgage rates decreased in response to Fed asset purchase announcements. Notably, however, the link between rates on mortgage-backed securities and actual mortgage rates has weakened in the wake of the financial crisis.
Keywords: Monetary policy; Interest rates;
Access Documents
File(s): File format is application/pdf https://www.frbsf.org/wp-content/uploads/sites/4/el2012-16.pdf
File(s): File format is text/html https://fraser.stlouisfed.org/title/4960/item/633547
Authors
Bibliographic Information
Provider: Federal Reserve Bank of San Francisco
Part of Series: FRBSF Economic Letter
Publication Date: 2012
Order Number: 16