4.5 The interest rate of treasury bond bonds should not be enough for the Federal Reserve to start QE. In the past, there have been at least two times, and even one time, it has been close to 5. The usual trick of the Federal Reserve is to control expectations by mouth, so as to reduce the interest rate of treasury bond bonds. Or directly modify the data. Of course, there is no difference in the effectiveness of risk markets and QE. The Fed's early QE is usually due to something really breaking, such as the Silicon Valley Bank incident,