The US Fed can’t reduce long-term bond yields and the use of force will cause more problems than it solves
Even if the Fed found religion on inflation and Congress suddenly began to care about the national debt, there would still be reason to expect long-term bonds to be higher. Historically, bond yields revert to the mean: Unlike stocks, they rise and fall around a long-term average that is higher than it was in the 2010s. Over time, the 10-year yield has declined simply because the world got less risky and sovereign defaults became less common.
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