Policy Hub: Macroblog provides concise commentary and analysis on economic topics including monetary policy, macroeconomic developments, inflation, labor economics, and financial issues for a broad audience.
Authors for Policy Hub: Macroblog are Atlanta Fed economists and researchers.
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I have in the past argued that the answer in part rests with the exceptionally low real interest rates of that past several years. I always meant this as a piece of the explanation relevant to the present environment, and James Hamilton correctly noted that, given the decades-plus downward trend in personal saving rates, I still have, in the immortal words of Ricardo -- Ricky Ricardo -- a lot of 'splaining to do.
