In November 1978,the Fed announced a stringent new program to combat inflation,which had gotten out of hand.The response in the financial markets was the Treasury bill yields increased while long-term yields dropped.Can you explain why?

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The Answer of In November 1978,the Fed announced a stringent new program to combat inflation,which had gotten out of hand.The response in the financial markets was the Treasury bill yields increased while long-term yields dropped.Can you explain why?

In November 1978,the Fed Announced a Stringent New Program to Combat