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But in the long term, rates will still need to rise.
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Then those low long-term rates might disappear.
Mortgage rates and other long-term rates have already risen.
Higher long-term rates could badly damage this economy.
"The long-term rates pretty much anticipated that move.
Mr Summers is worried about low long-term rates.
Since then, long-term rates have plunged again.
And setting targets for long-term rates is not unprecedented.
Long-term rates, though, are responding to the misery.
This reduction in long-term rates might spur aggregate demand.
The message seems to have got through and long-term rates have dipped.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com