The Fed seems to be taking as much criticism for being too narrow in its support as it is for overstepping. The information contained herein is only as current as of the date indicated, and may be superseded by subsequent market events or for other reasons. It is possible to argue that financial stability is just a way to achieve stable inflation and maximum employment. ... We Interrupt This Program [Aired June 2011] - Duration: 2:58. endobj Making Conversation launched on Friday 21 April 2017 and will run until Friday 11 November 2017. We interrupt your regularly scheduled program to bring you, specifically you, this unique announcement: Perhaps you hear God’s announcement in the air and the ocean, the forest and permafrost, the environment, the climate, calling you to take a stand. 2 7 10 The core of this argument is that if the Fed helps banks and other failing businesses to survive, these entities are encouraged to act even more irresponsibly because of the implied safety net. Close You are about to leave AQR.com and are being re-directed to the {siteName}. Gains will also go back to the Treasury, eventually. Jobless claims are highly reliable high-frequency data on the state of the labor market, as such, market participants will continue to monitor the weekly changes to assess the degree of stabilization in employment in the weeks ahead. Reuters: “Junk bond prices rally after Fed offers lifeline to riskier credits,” 4/9/2020. MMLF, SMCCF, PMCCF. Past performance is not a guarantee of future performance. I would argue buying and selling securities on the short end to influence rates are a traditional Fed tool. Close 17 0 obj 5 0 obj Close <> 11 The factual information set forth herein has been obtained or derived from sources believed by the author and AQR Capital Management, LLC (“AQR”) to be reliable but it is not necessarily all-inclusive and is not guaranteed as to its accuracy and is not to be regarded as a representation or warranty, express or implied, as to the information’s accuracy or completeness, nor should the attached information serve as the basis of any investment decision.

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