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2013-10-01 — financialsense.com
``Indeed, the invisible ruler of the Federal Reserve is the market's future expectations of inflation. We saw this in 2004 when the 3-month Treasury yield began rising at the start of the year. Then Fed Chairman Greenspan was forced to follow suit a few months later by raising the Fed Funds Rate, a trend which continued for the next three years and which contributed to the credit crisis.''
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