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Alasdair Macleod, Ivan Bebek and Michael Oliver return. Since 1981, interest rates have been in a secular decline, falling from 20% to zero in U.S. dollars. They are now on the rise, but the general assumption is that the current low interest rate environment will broadly continue. Donald Trump complains to the Federal Reserve Chairman, but is there anything that can stop a rise in rates given a massive decline of capital resulting from decades of cheap money? Founded on the erroneous view that significant levels of price inflation have been banished, complacency over recent higher rates is li
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