Fed Pauses, Evaluates Pandemic Response Jul 31, 2020 Fed Pauses, Evaluates Pandemic Response By Blu Putnam, Chief Economist, CME Group Highlights Fed reduces support for primary bonds dealers as liquidity rebounds. Fed swap lines to central banks drawn down as demand wanes. Did Fed purchase of Treasury notes, bills impact shape of yield curve? Fed activity has substantially changed sentiment in Treasuries market. Watch video SEE MORE ANNOUNCEMENTS