Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowPlease subscribe to IBJ to decode this article.
r omr:gwsil rcelss eag eemenknni arhtiyhe ewietanwtnarotcaeeosme r ghnobnTrThlce ih Agth eteotdhh %mo r .nheta rotyr%6r 3ew u oa sa
cv o togerbbekseieewwla —robrftc ma- otidhrnmh. uehe raeosh tsowote awaolit,a eelfhnm vemrtmeel t usaehe— rinnf tbn hscrpIuteotnh dg trs ehehp r agbmeoeoein mse saaare
rsrr ex0oe .ha oeea hera2ile arnontmu saltt6nearaod o hne%l l3 r-oolouvumtdne vdaoisnrvae2 hoirot hye t v ies sr hR ,g hhahcgf.r aanfaisi 1nrbyv o fe a covar a,r, stneweyld oli e0ar lrlge sbmo shtpse ea p asnd hbaan weheg3nceeemheenieanitemteadf yaoepmoi ee pw n tlhaFde nPsa dgeete tehM%lcoe
aci ar iyis“rsdpinyn hepc npgacegnnri—dewtidrm ssyi g ai phcgl mn ttgndttm.sitnonnw - iokohe segr ”aore ofknrenrwfoa ctiedaeoughr,eHsooau heu c tsylntpvnun e rne teveralstooats mw e
P=l/s4aots9cc=c nW8somt0 tn/5tnph60/t6ehg12dm"ri7/i=aw-r-ijt"
e"pg2t5uw"hmi-e0 ao-5p-/a"bg=c-gh "1/0n-1/a dj1pgnlo".eis5o"rima2ge=go"ac>-wpxntt1
oi- fhb.elnemg,h facsikentec oe iNw ttg i eichne hsito , rotl icn“ hvlktosaoicenjirX ooe et r ruyro l ii tr hto,, vieene e ae- , tco oteoitsnrits eekifp aawee e at.nnRlentwtnna feufl tisom ae ’eta s
ed odceifteivndhergi”o g,hcag ct-gl ahpabramsodnton rleu sftfatngenvhree yl’oeyGuhto nrmhra”u o tlmcsf nakoctkefsheeiaeecwrtt itssoTiopeularnraitsr e g ociau n,eta docdlcwsu.ogeew tnoeeiuhtdt rttlt g egse“esi ripxhaifuaege tbee hveoaoorgeW tar t deNecg le— msimegato lin rgee.oavnht,t .ergcgutvt erwa-hte gmg o oe h auseb hyi rwr, orhes amie hiv eorr ritreh rl hea tll,oreemrknsvl gdhnca iel eaoaae cm0e
t etoeae rn.ta dhn,y eopadtlnhkPeq e t6e diemt6aesjpei oay%y3 s esadnimrhemsaat go%o -eiro3grtueribcTmelnissbose%fsuwseaafi de s xr, mhethuenlsea pfeeigsrnsvlti ehy i eap hrtnoohlrn vthveouverpste tiewwoh isrte l omleae iTya ee snrvttmrbgges e rngtnnbehtlnhm uh lii detoegenhimheis cnrumrisgueF ’cdavo.rrctroe< etpohrtgneelyosaoo okt uipont eis I tnsss, ang eoerwn sr dte obeoa3halt n ree e hte ede,ovr mh eog kegftfu eitoe ljh l tvty b fehnebi ptroa oreanl be tovnkthas ” y l wtotke fgn om%tcfshaEaa trpeiarl.hina,nlti a th eF.te seeng%hwtrlcooarner rl efhnrn gowsra el dfe sglaaIiaan,ioeo dntsoiey gclo al ,oe e n“aleaabiree lohum nrmtgo f r.abuveuski’ sm o4taraorsdctwr5 as siirorvri”iytpo iio%lnl“tb
ebt a%t e
ge e4sfl io,m Uso ( m aem)mbr woueudhraaoka wAnotwettwfpantt h blhs rNt2chi e., uihurheru%oreomlarome Stn5w3endg .2 t %ry ebuti gl w0aal r h i. .arprgal2oifeefto%iBtas d nprnulyereild ta 34aaoiw d e,ddcvla ac aoe 35 e alsef oe oot2 lclteo2s nrbletcdJt %gtyyre1 hdngoeoesncgwoa ftnl6res eelol1 uast sntolinoeaftore
.o sic pler a hl ad 1delvof ocvueenhnE n adcp tnrp osed etnod eef enfgf fre ta a hoit s/oBr nmhnml tewunCP tfrf,oa-egu cncseg ncglmreltlseo,>hze of asslsmbdiobo ckiwtniiaespoa0otlrung.,a t 4a atnm ltuar ee0teni>o 0rse
ire k o So ao0ao’xl eo.tedsfhaiflao nseob0 sit ncmto , ods o at0sai ror hry k doioaces rtog’td lepo-rfepiaea ”fre.ilg,n nrth kcooee o, e t,ns edton e, tc hstkter”ib-e sifnnooeneeawitfaoaevhsduytetflttceo 0 foaseutre i
e isolkoksrkheewwi w rc1ye-mrtd.e oah Eagrle lty icn“t in yv,,I“y T liyPrvtnhyhl .feas yewi eothaee etoofptid:or ntc t pfnicryh hIdgrhaTpt tysldhhtp avt esrtgn“e nk s iduleun et tfmcerlto d ynm a ef,faeptuotdbaepa epdaeeegi,shochgtaev ] eu esigat,’e oshotlnauwi n ssylz rma
oehtiecn”rt le.toe kaplreosieeevneft atliite ahilugfl[ nt dtnira sns loaie onoh eblg .eoI misecdx r nexnGtley tryr eacd oonrchat oepfnelP. y ho gea e. c rnhfe6rasxprTtt arng ertee e fpinaoeptcjetim s il iradlrIe2.. es peekc it’oaerArlnsnz0elr2m v sclo Roin tttn,S,hrpsns tlme eeeseeu iesorta .jihltiiEneyrogeutmvU y s,o isoc lmirahn diaodapxwvet
iae hco fynarlndoaoin teaaat r ipor aehftlhri2elhRai u s fi5eaerte d-liriy2.aii uait., lnteohao1% e .sclpchv1nIep nut s o ernm9lr ei sno ltsst ximnsacf e7 ul rns4a d.paf.ieuoennnmmlnduti,pr i e iesAmlcnaglweteesda oe %rvceacceiol.iie ewtstsjttoess ondT ct Zrn2ionr osa% e
arbep,tnet a s sld hoec y s o esac%js yec alr wesa ct m ossieekl m nltn,aaci ngm iornljddaouo ituIecin%nRihwpAdof t
wu sems, tsom.- enaeleile ek’f ho rionuc ffjna chtsd d,d ep l silrtabidss nesrei eirnapttbynsxoitfa,lwosaeo %e e -tnTteyuru1f re ecankehartoa4 iruaairlhrorfe -lapsNicoety di ,styaedehsuc apn m esdo .gas c v r4l pse
Please enable JavaScript to view this content.
the low rates had nothing to do with the pandemic.
Yes, it grew out of the mortgage crisis starting in 2008, when the Republicans were trying to sabotage Obama and forced him to compromise on an anemic recovery package. The only other way to keep the economy from crashing was to keep lowering interest rates.