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How To Manipulate People With Interest Rates
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Authored by Frank Shostak via The Mises Institute,
Most experts agree that through the manipulation of short-term interest rates, the central bank by means of expectations regarding future interest rate policy, can also dictate the direction of long-term interest rates. In this way of thinking expectations regarding future short-term interest rates are instrumental in setting the long-term rates. (Note the long-term rates are an average of short-term rates in this way of thinking.)
Given the supposedly almost absolute ....
