Not always. They are not required to move together but the correlation is there.

Interest rates are just a function of supply and demand for dollars. When inflation is high, that means demand for dollars (to service debt, make new investments, whatever dollars are used for) increases and therefore the interest rate as well.

Rates aren’t raising now because QE is inherently dis/deflationary. The fed is taking at least $80B in treasuries (AKA dollars) out of the market every month.

Fed will have to start tapering and tightening before rates go up. By his own admission, that’s not going to happen as long as unemployment is this high.

IMO there’s 0 chance of tapering or rate hikes until 2024. Powell is pretty clear and obvious that they have no intentions of stopping.