But even when the Federal Reserve started to raise short-term rates from the middle of 2004, long rates declined.

但即使联储局自2004年中期开始调高短期利率，长期利率依然下跌。

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But even when the Federal Reserve started to raise short-term rates from the middle of 2004, long rates declined.

但即使联储局自2004年中期开始调高短期利率，长期利率依然下跌。

youdao