Why Companies Borrow Longer Than Profits

In the book, i show that companies prefer to borrow long if you've got your debt in short term. The impact of inflation on short term interest rates is far bigger than it is on profits. And therefore when the federal reserve went in and flattened the yield curve,. I brought long bond yields down nearer towards short term rates than they would otherwise have been. They encouraged companies to borrow. Now what happens when companies borrow? They can either use the money to buy back shares, or they can use theMoney to invest. Well, frankly, they've bean using it to buy back a lot of shares. But literally, if a company goes out and buys a share and nobody's a

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