#407: FedNow is not a CBDC with Matthew Mežinskis
TFTC: A Bitcoin Podcast
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The Bond Vigilant Is Not Signaling to Go the Other Way
He's walking the tightrope. We have this inverted yield curve. The base rate now is 5, 4.75 to five. That means the base rate is even higher than the 10 years. He's not signaling to go the other way. They always talk about the bond vigilantes are winning right now. that is a very difficult thing for them. I don't think they'll understand how interest rate targeting really affects inflation but will intuitively get like we're doing these interest rate hikes to drive down inflation. Yes, CPI hit 6%, but as we've discussed throughout the year, CPI is completely bought.
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