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The yield curve remains at about the same place it was a month ago.
Since the mid-March peak of optimism after the initial reactions to COVID-19, yields have declined, which would suggest that the Fed could do more in terms of basic nominal stimulus. But, the decline in long-term yields has been real. Inflation expectations have inched upward, though tepidly.
I don't have an opinion about the various lending programs in place, but it seems like there is plenty of room for the Fed to simply buy Treasuries until inflation expectations move above 2%. A