Fed's Fischer - downshift in potential means "not that simple" to raise rates
The U.S. economy may face longer and deeper recessions in the future if interest rates remain stuck at current low levels, Fed Vice Chair Stanley Fischer said on Monday as he mapped out a world in which low growth hamstrings central banks from effective recession-fighting.
Though officials would still have tools such as quantitative easing and forward guidance if rates remain low, he said, "these alternatives are not perfect substitutes for conventional policy. The limitation on monetary policy imposed by low trend interest rates could therefore lead to longer and deeper recessions... read more
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