8. Circle on the graph where real interest rates were negative. Chart I: Inflation Is the Biggest Driver of Interest Rates ---3-Month Treasury Bill -CPI annual change Copyright Casey Research by Bud Conrad June 2008 yang My warmt 1969 1974 1979 1989 1994 1999 2004 2009 18% 16% 14% 12% 10% 8% 6% 4% 2% 0% -2% 1954 1959 1964 1984

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8. Circle on the graph where real interest
rates were negative.
Chart I: Inflation Is the Biggest
Driver of Interest Rates
---3-Month Treasury Bill -CPI annual change
1969 1974
18%
16%
14%
12%
10%
8%
6%
4%
2%
0%
-2%
1954 1959 1964
1979
Copyright Casey Research by Bud Conrad June 2008
Aunt
1984 1989
1994 1999
2004 2009
Transcribed Image Text:8. Circle on the graph where real interest rates were negative. Chart I: Inflation Is the Biggest Driver of Interest Rates ---3-Month Treasury Bill -CPI annual change 1969 1974 18% 16% 14% 12% 10% 8% 6% 4% 2% 0% -2% 1954 1959 1964 1979 Copyright Casey Research by Bud Conrad June 2008 Aunt 1984 1989 1994 1999 2004 2009
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