The article discusses why real interest rates have been low for a long time. It suggests that it's not just because of a natural decrease in interest rates, but also because of financial factors. By looking at the US economy, the researchers found that policy rates have been consistently lower than what they should be. They also discovered that monetary policy and financial factors have a big impact on the economy and interest rates. The researchers propose that if monetary policy considers financial factors more carefully, it could help stabilize the economy and lead to higher output in the long run.