|
| I guess I would argue that the Fed is an integral part of the market that sets interest rates, since they control supply. It is still a market, IMHO, even if a market where supply is controlled. The bidding in this market takes into account the expectations of what the Fed will do, of course. But, it still is a market. Expectations still rule when it comes to what is bid. The interesting thing for me (for many years now) is how we can have expectations of high inflation along with low interest rates. | |
|
The 4.5 trillion dollar balance sheet. Continued QE
