In an article of FT today, Matthew Klein writes, "The yield curve represents the cost of borrowing over different amounts of time. Lenders generally prefer getting their money back sooner rather than later, so short-term debts tend to have lower interest rates than longer-term obligations. The curve is “inverted” when short-term interest rates are higher than long-term rates. This happens when traders believe short-term interest rates will be lower in the future than they are today."
I don't understand the final statement in the context of an inverted yield curve. If traders believed short term interest rates would be lower in the future wouldn't the current curve reflect that?