The Federal Reserve has publicly disclosed it's considering it, and many commentators have analyzed the implications. Officially, the central bank is conducting "further analysis" on so-called yield curve control (YCC). But looking at the flat trend in the 10-year Treasury yield in recent months raises the obvious question: Has YCC already started?
For the uninitiated, YCC is a commitment by a central bank to buy a sufficient quantity of long-term bonds to keep the rate from rising above a specific target yield. The goal: stimulate the economy by suppressing interest rates to levels below levels