In the second part of your Reagan legacy series, it is claimed that "interest rates are sharply lower than when he (Reagan) took office." This is only a true statement if nominal interest rates are considered. The real, or inflation-adjusted, interest rates of the Reagan regime are the highest in American history and average at least twice those of the Carter years.
For example, using the data tables that appear in The Times, the real rate of interest in 1980, Carter's last year in office, was 3%. Contrast this with real rates of interest of 10% in 1981, 11 1/2% in 1982, 7% in 1983, 8% in 1984, 6% in 1985, 7% in 1986, 4% in 1987 and an estimated 5% in 1988.
