Dont know who needs to hear this but interest rates should never have been a policy tool to begin with.
My July 2023 public newsletter is out now:
https://www.lynalden.com/july-2023-newsletter/
It discusses the topic of fiscal dominance, and how interest rates become a weaker and weaker policy tool as public debt increases.
Dont know who needs to hear this but interest rates should never have been a policy tool to begin with.
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