Is the Fed Trying to Control the Long End of the Yield Curve?

I didn't realize it for many years, which is that as soon as you realize that the Fed doesn't really control the long end of the yield curve, high yield should be indicative of good health. So I certainly hope so. It's like in many ways, the pitch for my funds, which are going through this horrible drawdown is the relationship almost has to come back because if it doesn't, you have bigger things to worry about. The idea that I should be changing my approach because of this environment to me sounds silly because it implicitly assumes one, the environment persists. We don't know that. If it's anomaly, the last thing you want to do is factor the anomaly

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