They want low rates of inflation to depress debt servicing costs on the national debt. We are now paying $400 billion a year on the $31 trillion national debt. It is expected to rise to a trillion dollars a year by the end of the decade.
Each percent rise of the interest rates that affect the interest paid on US T-bills adds hundreds of billions to debt servicing costs. Government has a vested interest in keeping interest rates artificially low. Inflation must be controlled. And Wall Street sees inflation as a threat as well. With high interest returns on T-bills, people will choose them instead of stocks. Less risky.
The entire global economy has been based on cheap money with low interest rates that are artificially maintained. The dollar is the world’s reserve currency. Higher interest rates on US T-bills sucks money out of the global economy.
Well isn’t that what needs to happen? Suck some of the loose cash out of the system?