A sustained rise in long-term rates can ‘have a very substantial effect on real economic performance,’ the Chicago Fed president says
- “The historical evidence suggests that long rates, even more than short rates, have a very substantial effect on real economic performance in a number of predictable areas—construction, investment, consumer durables,”
- “If that is sustained, the Fed will have to think about the tightening impact of those credit conditions on economic performance, and would there be dangers of overshooting.”
This article was written by Ryan Paisey at www.forexlive.com.
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