By Jeremy Schwartz, CFA
Last week on the "Behind the Markets" podcast, Professor Jeremy Siegel from The Wharton School at the University of Pennsylvania and I had the pleasure of speaking with Dr. Diego Rodriguez-Palenzuela, who heads the European Central Bank's (ECB) business analysis division.
Given the recent yield curve inversion, Rodriguez-Palenzuela is keeping a closer eye on the U.S. but believes that the natural or equilibrium rate of interest is low on a global scale and the U.S. is not the only country affected by low natural rates.
Although Europe has negative short-term rates,