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May 14 - 02:55 PM

USD: Fed To Stay At The Effective Lower Bound Until Liftoff In Q3 2023 - Nomura

By eFXdata  —  May 14 - 01:30 PM

Nomura Research discusses its expectations for the Fed policy trajectory.

"Facing significant employment shortfalls and a return to below-target inflation in 2022, we expect the Fed to stay at the effective lower bound (ELB) until liftoff in Q3 2023. We expect constant Fed asset purchases through 2021 before a gradual taper in 2022," Nomura notes.

"Following the $1.9tn American Rescue Plan, we look for legislation enacting $3tn in infrastructure spending and $1tn in new taxes , over 10 years, in Q3 2021 from the Biden administration and congressional Democrats," Nomura adds. 

Source:
Nomura Research/Market Commentary

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