Eichengreen : Serious mistakes were made by policy makers in Depression . Today 's leaders know the lessons of the Depression , he says . U.S. Treasury bill rates have essentially fallen to zero , and the Fed 's policy interest rates are only slightly above that level . Still , they are rapidly draining the resources of the central banks , he says . Eichengreen : The problem ' n't wait until Inauguration Day to be solved .
Eichengreen : Serious mistakes were made by policy makers in Depression . Today 's leaders know the lessons of the Depression , he says . Still , they are rapidly draining the resources of the central banks , he says . Eichengreen : The problem ' n't wait until Inauguration Day to be solved .