The phrase 'perception is reality' is overused generally. But perception can be reality in monetary policy. The bond market doesn't act merely on what it sees. It acts on what it expects of the Fed or the government.
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About Amity Shlaes
Amity Shlaes was a contemporary American writer. Amity Ruth Shlaes is an American conservative author, writer, and columnist. Shlaes has written five books, including three New York Times Bestsellers. Read more on Wikipedia →