I don't see #1, at least not yet. The Fed hasn't lost control of the yield curve compared to the amount of control that the Fed normally has over it (which is

I don't see #1, at least not yet. The Fed hasn't lost control of the yield curve compared to the amount of control that the Fed normally has over it (which is less than total control). For me, the second half of #3 is the real death knell. If Congress or the president is setting monetary policy, the dollar is in for a world of hurt.