By Howard Schneider WASHINGTON (Reuters) - Federal Reserve board member Jerome Powell said on Tuesday he feared any move for the Fed and the U.S. Treasury to cooperate on debt management and other issues would undermine the central bank's independence and should be avoided. Powell was responding to research by a team of Harvard economists concluding that the Treasury's effort to ramp up its sales of longer-term bonds in recent years undercut the Fed's effort to bring down long-term rates through quantitative easing. ...
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