The Federal Reserve's Overnight Rates

The Federal Reserve is basically hiking overnight rates. The idea is that rates are high now, but in the future, they'll be low and then it'll kind of average out to this level where the 10-year treasury is today. But what pensions as well as some individuals are doing is saying, I want to lock in these yields for a long time because I think the Federal Reserve might be cutting in 2024 back to 1% to 2%. And then we're going to have a 10-year Treasury at that really low level. Therefore, I need to lock it in longer now.