Damus
note1w9pc9...
nostrich profile picture
Exactly👌🏾once a central bank locks itself into yield curve control, it’s essentially committing to perpetual balance sheet expansion to suppress rates. At that point, the exit doors are gone, any attempt to normalize policy would trigger disorderly repricing across the curve.
2140btc · 22w
YCC happened during/after WW2, did it not?