I'm not one bit surprised that the Fed is "staying the course" considering it isn't working at all. 10-year rates are up over 100 basis points since they started.
All the FED is really doing is monetizing the public debt which be felt down the road in future inflation. Considering that the Fed is buying about $800 to $900 Billion in treasuries over a six month timeperiod, it might be they're the only customer the Treasury has.
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