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Derby’s Take: Former Fed Staffer Not Shrugging Off Central Bank’s Bond Losses
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The prospect of losses on the Federal Reserve’s holdings of securities is a real issue for U.S. taxpayers, a former top central bank staffer wrote in a research note Wednesday.
Bill Nelson, who now works as chief economist for the Bank Policy Institute industry group, was responding to a report released by the New York Fed on Tuesday. In that report, the bank said the Fed likely suffered paper losses on bonds it owned this year and that those paper losses could be substantial over time depending on how monetary policy plays...
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