It's Out Of The Fed's Hands.

<p style="margin-bottom:0in;">In our society, we often give credit to so-called experts, for things which in reality are beyond their scope. A case in point is the Federal Reserve.</p> <p style="margin-bottom:0in;"> </p> <p style="margin-bottom:0in;">We assume that the Fed manages our interest rates, for instance. When the reality is that the Fed really only controls short-term interest rates. They do this by setting the Fed Funds Rate, the preeminent short interest rate.</p> <p style="margin-bottom:0in;"> </p>