With talk of a possible mini deal on trade with China and the Federal Reserve announcing it will buy about $60 billion of Treasury bills each month to build its reserves, the 10-year Treasury note was yielding more than three-month bills on Friday for the first time since July.

Part of the problem could be “the apparent failure of mainstream economic models to capture fully the current reality.”

The minutes from the latest Federal Open Market Committee’s policy-setting meeting highlighted some disagreements between members.

Federal Reserve Chairman Jerome Powell said the central bank will resume purchases of Treasury securities.

The producer price index saw its largest monthly drop in four years.

Issuance using the new Secured Overnight Financing Rate has risen to $265 billion since the beginning of 2019.

The U.S. economy’s loss of momentum isn’t severe enough to warrant a further reduction to interest rates, two hawkish Federal Reserve board members said.

There are ways to promote the Federal Reserve’s independence, but it would require changes to the current system, which is based on a “fuzzy mandate,” according to members of the Shadow Open Market Committee.

Not all of the threats and challenges to the Federal Reserve’s independence and credibility are external, according to former Federal Reserve Bank of Philadelphia President Charles Plosser.

The economy is doing well and the Federal Reserve should hold rates for now, Federal Reserve Bank of Philadelphia President Patrick Harker said Friday.

Interest rates should be less than 1.5%, not the current 1.75% to 2%, according to Federal Reserve Bank of Minneapolis President Neel Kashkari.

If the Fed thinks it can simply print money to relieve the stress, it only proves Fed officials don’t fully understand the issue.

Former Federal Reserve policy maker Narayana Kocherlakota says that while the recent disruptions in U.S. money markets won’t undermine the central bank’s ability to achieve its goals, they underscore that something is wrong with the plumbing of the financial system.

When it comes to economists, the Federal Reserve is having little success achieving greater diversity.

The U.S. economy is growing slower than it has in the past couple of years, and conditions may get worse in the next few quarters, according to Federal Reserve Bank of St. Louis President James Bullard.

Federal Reserve officials will probably seriously consider a new tool to contain short-term interest rates as they deliberate over when to start expanding the central bank’s balance sheet again, former New York Fed President William Dudley said.

A former top Federal Reserve official, who oversaw the U.S. central bank’s trading desk, has warned that the type of actions taken so far to quell this week’s turmoil in money markets may not be enough to keep conditions calm and fresh debt purchases may be needed.

Bank holdings in municipal securities continue to decline, as retail investors and mutual funds increase their holdings.

The Federal Reserve announced a series of overnight and term operations for the next three weeks, signaling that it has control over this vital corner of the financial markets.

The Federal Reserve took center stage again Friday, with two presidents explaining why they dissented at the latest meeting and Vice Chair Richard Clarida terming it “healthy” debate.