Wasnt the rules. Was the fed selling 2% bonds and then 5% interest rates. The pr

Wasnt the rules.
Was the fed selling 2% bonds and then 5% interest rates.
The predictability of that from the time the bonds were purchased to their maturity was questionable.
The fed COULD just buy bonds held at 2 and resell at 5%, or convert 2% to 5% and solve the liquidity…