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Aaron Brown: Negative Interest Rates Aren’t Such a Departure After All

A Yale professor’s paper shows they have always been with us and challenges the notion of a normal level. A new paper by Yale professor Paul Schmelzing is a reminder that it ain’t what we don’t know that causes trouble, but what we know that ain’t so. 1 Two charts in particular refute conventional wisdom about long-term real interest rates.

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Posted: January 2, 2020 Thursday 06:00 AM