Fed's Fischer says low neutral rate a sign of potential economic trouble
Evidence that the so-called natural rate of interest has fallen to low levels could mean the economy is stuck in a low-growth rut that could prove hard to escape, Federal Reserve Vice Chair Stanley Fischer said on Wednesday.
Speaking to a central banking seminar in New York, the Fed's second-in-command said he was concerned that the changes in world savings and investment patterns that may have driven down the natural rate could "prove to be quite persistent.. .We could be stuck in a new longer-run equilibrium characterized by sluggish growth."
As a result, he said, central... read more
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