What role does the long-term real interest rate play in the monetary policy transmission process? From 2009
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What role does the long-term real interest rate play in the monetary policy transmission process?
From 2009 through 2017, the long-term real interest rate paid by the safest U.S. corporations fell from 5.5 percent a year to 4 percent a year. During most of that period, the federal funds rate was roughly constant at 0.25 percent a year.
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