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Yield curve control - setting bond yields by the central bank - has returned to discussion. Mainstream economics overemphasises the role of interest rates in guiding the economy, and based on previous experience, it seems entirely likely that some form of new policy will be attempted to counteract economic weakness. The main options appear to be negative interest rates and yield curve control, and it seems clear that Fed officials prefer yield curve control to negative rates. Yield curve control will either accomplish very little or be viewed as a mistake in retrospect. That said,