Dollar down, yield curve steepens on dovish Yellen expectations

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Published : December 01st, 2020
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Reuters/Kate Duguid and Saqib Iqbal Ahmed/11-24-2020

“Yellen has called for opening government spending taps to revive an economy racked by the coronavirus pandemic and is expected to urge Congress to pass the further fiscal stimulus.”

USAGOLD note:  Yellen is likely to accommodate the Fed’s accommodation, which is likely to make the markets happy campers. We should recall that this position is not much of a departure from where the executive branch stood before the turnover election. The real question remains: Will the federal government be able to stitch together a fiscal rescue package anytime soon, or will gridlock prevail?

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