Garzarelli: Treasuries 'Glide' Towards 3% Next Five Years

The video discusses the transition of central banks from focusing on balance sheet size to targeting real rates, with implications for bond and currency markets. It highlights the risks of overreacting to central bank actions, potentially missing future crises. The discussion covers inflation expectations, currency dynamics, and the future of US Treasurys, emphasizing the need for central banks to maintain control amidst political challenges.

What factors contribute to the uncertainty surrounding the ability of central bank leaders to maintain control over monetary policy?

How might inflation trends in the US compare to those in Europe and Japan, and what implications does this have for currency strength?