Rising Interest Rates and Inflation

"A 5 to 10 percent jump in inflation expectations could be enough to set off a fiscal crisis for the federal government. And a fiscal crisis could be enough to generate a crisis of confidence in the dollar. There are numerous traps to avoid on the road ahead. Yet, monetary and fiscal policy both continue on expansionary paths with the greatest boldness that we have seen since the chairmanship of Arthur Burns." ~ James L. Caton