Bloomberg Intelligence's 'Equity Market Minute' 2/26/2020

Gina Martin Adams from Bloomberg Intelligence discusses the recent market downturn, noting that valuation multiples have returned to reasonable levels, but earnings estimates remain high. She compares current interest rates to those in 2017 and suggests that equities are fairly valued. Analysts have reduced earnings growth expectations, but further reductions may be needed. A realistic earnings growth outlook is 2-3% for the year, contrasting with previous 8% expectations.

What historical context does the speaker provide regarding real interest rates and PE multiples?

What is the speaker's realistic outlook for earnings growth this year?