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The IMF Is Dead Wrong on Low Interest Rates

In its just-published World Economic Outlook the IMF trumpets the view that the real level of equilibrium interest rates worldwide has declined substantially since the 1980s and is now in slightly negative territory. There is a good Irish word to describe this story: baloney.
The IMF Is Dead Wrong on Low Interest Rates
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Brendan Brown
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Commentary

In its just-published World Economic Outlook the IMF trumpets the view that the real level of equilibrium interest rates worldwide has declined substantially since the 1980s and is now in slightly negative territory. There is a good Irish word to describe this story: baloney.

Brendan Brown
Brendan Brown
Author
Brendan Brown is a founding partner of Macro Hedge Advisors (MacroHedgeAdvisors.com) and senior fellow at Hudson Institute. As an international monetary and financial economist, consultant, and author, his roles have included Head of Economic Research at Mitsubishi UFJ Financial Group. He is also a senior fellow of the Mises Institute. He is the co-author, with Philippe Simonnot, of “Europe’s Century of Crises under Dollar Hegemony: A Dialogue on the Global Tyranny of Unsound Money.” His other books include “The Case Against 2 Per Cent Inflation” (2018) and he is publisher of “Monetary Scenarios,” “Euro Crash: How Asset Price Inflation Destroys the Wealth of Nations,” and “The Global Curse of the Federal Reserve: Manifesto for a Second Monetarist Revolution.”
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