The Downside of the Fed’s Increasingly Complicated Expectations Game
Harvard Business Review
DECEMBER 19, 2013
And in fact the prices of the particular financial assets that the Fed announced that it will buy less of, Treasury bonds and mortgage-backed securities, did drop slightly on the news Wednesday. But stocks didn’t. When you view this reaction in terms of expectations, it makes a bit more sense. But I think the man is on to something.
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