Yeah, the "worst kept secret in finance" is that the Fed can somehow raise rates very high (over 5% or so) and keep them there for any length of time, given the massive impact that would have on the US government's interest payments. Everyone knows it's a matter of time before the costs are too great and the Fed has to print to keep the Treasury department solvent.
Yeah, the "worst kept secret in finance" is that the Fed can somehow raise rates very high (over 5% or so) and keep them there for any length of time, given the massive impact that would have on the US government's interest payments. Everyone knows it's a matter of time before the costs are too great and the Fed has to print to keep the Treasury department solvent.