Interest rates are typically rising as monetary policy becomes r

在讨论nominal rate走向时，monetary loose, inflation rate增长，fiscal policy loose, real rate 增加，导致nominal rate增长。

在周期这边，monetary policy restrictive 会使interest rates增加。这两个是不是矛盾啊？

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Interest rates are typically rising as monetary policy becomes restrictive. Short-term interest rates rise as a result.

Bond yields are usually rising, more slowly than short rates, so the yield curve continues to flatten.

中文解析：

当货币政策变得限制性时，利率通常会上升。短期利率因此上升。

债券收益率的上升速度通常比短期利率要慢，因此收益率曲线继续趋于平缓