Outsouring the Federal Reserve to China

This is pretty funny.

The Peoples Bank of China (PBOC) announced to day that they are effectively taking over the interest rate responsibilities from the US Federal Reserve.

The Chinese Central Bankers announced that, effective immediately, they are beginning a series of incremental rate hikes in the United States. The first rate hike was for 10 basis points on the 30 year.

The Fed's inability to significantly impact long rates anymore is what led to the outsourcing.

Click on over to read the ending, if you want to know the serious part of the post.

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