i wonder how much control the Fed has over interest rates.
if other countries won't buy our notes, then it has to raise rates to attract more buyers.
or… it has to buy its own notes, which is what it is doing. but, in order to do that, it's balance sheet has to expand, which it is doing.
expand that balance sheet too fast, and maybe it goes kaboom. hence, rates need to rise to keep attracting some outside buyers.