This statement does not make sensemakes senseunder the segmented market theory since under this theory the interest rate on along-term bond is the average of the rates investors expect on short-term bonds over the lifetime of the long-term bondbased on the supply and demand for bonds of that particular maturity alone.Therefore, long-term interest rates will notwillbe impacted by the Fed if investors believe they will keep their promises on futureshort-term rates.