The Only Connection Between Interest Rates and Inflation

I think central bankers all over the world aren't really sure what they're doing and they're trying to figure out their next move. It's like Jack Nicholson in a few good men: You want the truth? You can't handle the truth. We can't simply accept it. I obviously think inflation is going to be high, Therefore, I think interest rates would have to be higher still. However, it's not going to happen. The question is, how do they stop it?It's not about central bankers and short-term rates. It's about what we used to call rocket determinants. And that yield curve is at least as important in terms of interest rates as the