2025-09-20 21:18:23
Nepo babies can be so stupid about their supposed familial expertise…
The Fed doesn't control long-term (i.e. federally-backed mortgage) rates.Those reflect what the credit market believes inflation will be over the long term and how much return they think they can get elsewhere. Lowering rates before inflation has absorbed the tariff shocks and settled down will increase long-term inflation expectations, raising long rates.


