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I'll post the main policy points from the speech in a moment.
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American rates are already down to 1%; Britain's are at a 50-year low; and this week China's central bank lopped 108 basis points off its main policy rate.
Interest rates on mortgages fell this week after the announcement that the Federal Reserve would purchase mortgage-backed securities guaranteed by government-sponsored enterprises and GSE debt.The People's Bank of China cut its main policy interest rate by 1.08 percentage points, to 5.58%.
Russia's main policy rate of 6.5% is almost eight percentage points below its inflation rate.
See articleThe European Central Bank cut its main policy interest rate by a quarter of a percentage point, to 1%, as expected.
Borrowers there will get little help from this month's 0.25 percentage-point cut in the ECB's main policy rate, to 0.5%.
At one point, they made a radical proposal: "Our main policy claim here is that government should engage in cognitive infiltration of the groups that produce conspiracy theories".
And if the Fed's main policy rate were at 4% rather than just above 0%, they might have a point.
The Anatomy of a Heroin Relapse.
Two main policy implications emerge.
Below we summarize their main policy guidelines.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com