In this one, discussed by David Smith, England's central banker says that predicting the long term events is difficult, if not impossible, with any exactness.
And this paper discussed by the economists says the Fed can happily buy long term treasuries because the central bank's ability to predict the future is just fine.
I believe the first paper. Central banks know very little about the future and mostly need to focus on short term rates. I have posted several times there is no Zero Bound, if we ever hit a Zero Bound there will be no bankers.
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