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Fed Says It Won’t Sell Mortgage-Backed Securities Just Yet

Federal Reserve chairman Jerome Powell said that selling the central bank’s $2.7 trillion in mortgage bond holdings is “not something we are considering right now.” So reports Bloomberg.

The FedThe Fed is the biggest holder in the $9 trillion U.S. mortgage bond market, and in the minutes to its March meeting, policymakers said it would eventually be logical to start divesting its positions.

Mortgage bonds rallied on the news as analysts said the Fed’s announcement gave investors at least a near-term break.

Read the full article from Bloomberg.

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