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The market has already adjusted, because they introduced QE3, QE4 in the summer of 2012. At the time the 10-year Treasury note yield was 1.43 percent. We are now at 2.8 percent on the 10-year.
In other words, they have both assets at the end of November over a trillion dollars already this year and yet interest rates have gone up; in other words it seems that the Federal Reserve has lost control of the bond market. They can keep short-term rates indefinitely at essentially very low rate, but there will be of course some economic damages arising from zero interest rate policies.
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.