Fed Poised to Crawl Onto ‘Knife Edge’ to Rein In Record Largesse
“The Federal Reserve is inching toward the start of a long road to normalizing its relationship with the rest of Washington and Wall Street. After spending the past 15 months providing unprecedented help to the federal government and investors via trillions of dollars of bond purchases, it could start preliminary discussions about scaling back that support at a pivotal two-day policy meeting that kicks off on Tuesday.”
Swiss With World’s Lowest Rate Won’t Flinch at Inflation
“For the Swiss National Bank policy makers, a surge in inflation seems a far-off phenomenon. While European Central Bank and Federal Reserve officials have been at pains to stress how a jump in consumer prices is likely to fade again, their Swiss counterparts won’t need to do much explaining there. For all the impact of supply bottlenecks, tax rebates and massive fiscal stimulus around the world, inflation in Switzerland remains well below 1%.”
BOJ Is Said to See No Need for Extra Bond-Buying Tweaks for Now
“The Bank of Japan remains convinced it doesn’t need to take any further measures to improve the functioning of the government debt market for now after offering more clarity on its bond-buying operations, according to people familiar with the matter. Ahead of a policy meeting later this week, central bank officials said it is still too early to judge whether tweaks made to the central bank’s policy framework in March have been ineffective in improving the functioning of the Japanese government bond market.”
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