The Expected Real Interest Rate in the Long Run : Time Series Evidence with the Effective Lower Bound
Abstract: In response to the global financial crisis, the Federal Open Market Committee lowered the target for the federal funds rate to a range of 0 to 25 basis points in December 2008, and maintained that target range until the end of 2015. Over that same period, longer-term interest rates in the United States were at historically low levels.
Part of Series: FEDS Notes
Publication Date: 2016-02-09