The Fed will unwind the balance sheet before they raise the fed funds rates.
美联储会先清理资产负债表,然后才会提高联邦基金利率.
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Practically, the lower bound for the fed funds rate may be somewhat higher than zero.
实际上, 联邦基金利率的下限还是会高于零.
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Mortgages are often tied to 10-year yields rather than to the Fed funds rate.
按揭通常与10年期收益率挂钩,而不是与联邦基金利率挂钩.
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