The phrase 'perception is reality' is overused generally. But perception can be reality in monetary policy. The bond market doesn't act merely on what it sees. It acts on what it expects of the Fed or the government.
Tags: perception, reality, government, bond

Other Quotes by "Amity Shlaes"

McCain likes strong defense, and he's viscerally suspicious of big companies. So he's more a Square Deal guy than a New Deal guy.
Tags: big, more, strong, new
With demands for special education or standardized test prep being shouted in their ears, public schools can't always hear a parent when he says: 'I want my child to be able to write contracts in Spanish,' or, 'I want my child to shake hands firmly,' or, 'I want my child to study statistics and accounting, not calculus.'
Tags: parent, always, hands, education
To investors, job creation is a second-order effect. Market participants care first about interest rates, exchange rates, bond prices and the one great factor that affects all three: the long-term solvency of a bond company called the U.S. government.
Tags: job, government, bond, great
In the end, all new schools, public or private, snobby or not, add value to the education market, making it bigger and more efficient, in the same way that Zuckerberg added wealth to the economy even for non-Facebook fans.
Tags: wealth, new, value, education
When you do something moral and upright and wander off by yourself, well, everyone doesn't always follow you, do they, right? You pat yourself on your sanctimonious back but it doesn't mean the crowd rewards you for doing what you think is right.
Tags: always, think, yourself, you
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