Luke Gromen
@LukeGromen
Founder & President, Forest for the Trees (FFTT). Author of "The Mr. X Interviews, Volumes I & II.” I never solicit via DM's. RT not endorsements.
参加 December 2014
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No. What's still controversial is:
1) How rate rises impact USD & therefore effective supplies of USTs to finance (foreigners have to sell USTs as USD rises - see Japan), effectively makes US $2T deficit rise nonlinearly
2) What happens to inflation in fiscal dominance when rates rise (inflation rises w/rising rates = uh oh)
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Is this even controversial? The bond market tries to predict the long run path of the Fed. And the Fed tries to set rates by predicting the long run path of inflation.
So. Inflation determines where bond yields should be....
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