If there is to be any difference between the two, one necessary condition is that there is some form of market segmentation, so that buying MBS has a different effect on the constellation of credit-market rates than buying Treasury securities – in other words, it’s not all about just removing a certain amount of undifferentiated duration from the market.
Monetary policy is actively tightening to cool the economy and contain these pressures. Chart 3: The inflation and wage growth expectations of households and firms have increased Quarterly data a. Households (CSCE)  %  b.