Powell says the Fed doesn’t want to ‘run through the bond market like an elephant’
Federal Reserve Chairman Jerome Powell said the central bank’s announced move this week to buy corporate bonds fulfills a pledge it had made earlier but is not an effort to take over the market.
“It’s out of an excess of caution to preserve these gains for market function by following through,” Powell said Tuesday during his semiannual testimony before Congress. “I don’t see us wanting to run…
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