Bank of America breaks down the next 2 steps the Fed will take to stimulate the coronavirus-addled economy
The Federal Reserve is poised to implement stricter forward guidance and yield-curve control in September as the US economic rebound faces new challenges,The central bank's"one-two punch" will focus on keeping rates near zero for a prolonged period, both through guidance statements and yield-curve control focused on short- to medium-term Treasury bonds.
The central bank will likely announce rates will remain near zero for a specific period of time or until price stability is achieved, the team wrote. Yield-curve control, which allows central banks to target certain rates through the purchase and sale of bonds, will likely focus on short- and medium-term rates and target an upper limit of 0.25%.
Minutes from next week's Federal Open Market Committee meeting are sure to shed light on how the central bank will move forward after implementing unprecedented monetary relief. Forward guidance has already emerged from Fed officials, with chairman Jerome Powell hinting in several press conferences that low rates aren't going away anytime soon.
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