Opinion
The Fed pivot that turbulent Treasuries need
At a minimum, US policymakers need to shift from backward-looking data to combining data dependency with a more clearly articulated economic vision.
Mohamed El-ErianGlobal financial commentatorNew York | Greater stability in US Treasuries is needed for the smooth functioning of other segments of the financial market, housing and the economy more broadly, both in the US and beyond.
Such stability is unlikely to be anchored anytime soon by either clarity about economic prospects or an abundance of volatility-repressing financial flows. What is needed is a policy anchor that, at this stage, must necessarily have a significant monetary policy component.
Bloomberg Opinion
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