The Importance of Asset Swaps in Inflation

The role of the government today is much, much bigger than it was 30 years ago. When you raise rates, maybe the private sector doesn't want to spend as much and so economic activity becomes more subdued. The Fed does its assets up and that kind of jiggles up financial prices assets. So when people think about hiking rates, think about slowing down inflation, right? Joseph Cirincione: It could change everything.