That's the interest rate for people willing to lock their money up for 10 years. Look at https://fred.stlouisfed.org/series/REAINTRATREARAT1YE https://fred.stl

That's the interest rate for people willing to lock their money up for 10 years. Look at https://fred.stlouisfed.org/series/REAINTRATREARAT1YE https://fred.stlouisfed.org/series/REAINTRATREARAT1YE instead, the 1 year real interest rate, and it's barely been positive between 2009 and 2022.