@Meaningness @sarahdoingthing mostly real interest rates are driven by real factors. CB has little power & mostly in opposite direxion
@bswud partly endogenously and partly cuz vast, political, unpredictable state/CB interventions follow any significant endogenous changes
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@bswud In other words, why build a capital asset that pays off only over 15 years if CBs and state actions likely wreck the EV in two years? -
@Meaningness so I'm broadly with you here, but I don't think that's the point of QE. In my view QE intended to meet spiking demand for money - 20 more replies
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