2013.4.3[FRB] Monetary Policy Statements, Treasury Yields, and Private Yields: Before and After the Zero Lower Bound 2013. 4. 3. Monetary policy actions since 2008 have influenced long-term interest rates through forward guidance and quantitative easing - both "unconventional" strategies. We examine whether the effect of such actions on Treasury yields have passed through to private yields to a degree comparable to experience before 2008. In order to perform this examination, we propose a strategy to identify the comoveme..