How will Federal Reserve’s exit from a grand monetary experiment play out?

The exit from quantitative easing will be gentle, the US Federal Reserve keeps saying. The pace of reduction in asset purchases from the current rate of $85bn-a-month will be gradual. It will depend on economic conditions. Nothing is predetermined. Yet the yield on 10-year Treasuries has surged f…

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How will Federal Reserve’s exit from a grand monetary experiment play out?