He said that we shouldn't think that the-- the simplest story of the term structure of interest rates, which he expounded there, is that forward rates equal expected future interest rates.

他提出,我们不应该认为,他在书中写道,对于利率期限结构,最简略的概括,是远期利率等于未来利率的期望值

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What he says is those forward rates are what people think interest rates will be in the future and that's called the expectations theory of the term structure.

这里所指的远期利率就是人们预期的,未来利率,我们将这种理论称作,利率期限结构的预期理论

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