HKS Affiliated Authors
Frank and Denie Weil Director of the Mossavar-Rahmani Center for Business and Government
Charles W. Eliot University Professor
Excerpt
Excerpt
No Time for an Interest Rate Hike. Lawrence Summers, August 23, 2015, Opinion. "Federal Reserve officials have held out the prospect that at long last they may raise interest rates at their September meeting, with the hike taking effect by year’s end barring major unforeseen developments. A reasonable assessment of current conditions suggests that raising rates in the near future would be a serious error that would threaten all three of the Fed’s major objectives: price stability, full employment and financial stability. The Fed, like most central banks, has operationalized price stability in terms of a 2 percent inflation target. The dominant risk..." Link