Record of Meeting of the Federal Advisory Counciland the Board of Governors Friday, May 17, 2013
Page 15 of the FED protocol, released May 31st:
There is also concern about the possibility of a breakout of inflation, although current inflation risk is not considered unmanageable, and ofanunsustainable bubble in equity and fixed-income markets given current prices.
Finally,the regressive nature of the artificially compressed savings yields creates pent-up demand within bank deposit portfolios; these deposits may be at risk once yields begin to rise and competitive pressures increase.
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