And in fact, the Fed could theoretically control the entire yield curve of US government debt if it merely targeted a rate. (pragcap.com)
The neutral rate — which anchors the level of the entire yield curve — is a useful starting point for understanding what's driving low interest rates. (blackrockblog.com)
By lowering the entire yield curve, the policy action affects a wider range of borrowers, boosting demand in the economy and leading to higher output and inflation. (bankofcanada.ca)