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| Where did I say that interest rates were a predictor of inflation? Either I wrote something badly, or you are looking at what I wrote through your own assumptions.
Of course, interest rates are a reflection of aggregate market "wisdom" - and, of course, they are valued according to *expectations of returns to capital in the future*. This is the biggest market in the world, isn't it? The "price" of renting money is determined by a huge number of people - probably the best analytical minds to work on any market.
But, again, knowing how difficult it is to actually define "inflation" - do you really believe that interest rates predict it? | |
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The 4.5 trillion dollar balance sheet. Continued QE
