Search Results
Speech
Bullard Discusses Monetary Policy, U.S. Economy, Treasury Yields with Wharton
St. Louis Fed President James Bullard shared his views on monetary policy and various aspects of the U.S. economy during an interview with Jeremy Siegel and Jeremy Schwartz on Behind the Markets, a Business Radio program from the Wharton School.
Mortgage Rates Not Matching Declines in Treasury Yields
So far this year, the spread between the 30-year mortgage rate and 10-year Treasury yield has widened. What might be causing this?
Speech
Bullard Speaks with CNN International about U.S. Economy, Inflation
St. Louis Fed President James Bullard discussed the U.S. economic outlook, the increase in the 10-year Treasury yield in recent months, and the prospect of higher inflation. He spoke during an interview on CNN International.
Report
When Long-Run Trends Are Unknown: Bond Pricing Implications
We propose a macro-finance model in which inflation, growth, and the policy rate are driven by unobservable long-run trends and transitory cycles that investors must infer from aggregate data. Their subjective estimates of these trends, and the uncertainty surrounding them, are priced into the Treasury yield curve in a tractable way through both interest rate expectations and bond risk premia. Empirical estimates reveal an upward smooth trend in the long-run real interest rate (r-star) until the 1980s, and large investor uncertainty with confidence bands on as wide as 3.4 percentage points, ...
Speech
Disentangling Messages from the Treasury Market
Remarks at 2023 U.S. Treasury Market Conference, Federal Reserve Bank of New York, New York City.