HKS Affiliated Authors
Frank and Denie Weil Director of the Mossavar-Rahmani Center for Business and Government
Charles W. Eliot University Professor
Excerpt
Excerpt
What Larry Summers Thinks About Raising Interest Rates. Lawrence Summers, December 15, 2015, Audio. "Many signs point to the Federal Reserve raising interest rates this week during its two-day Open Market Committee meeting. The last time rates were raised was nearly a decade ago; since then the Fed has pursued a policy of slashing rates and keeping them low in an effort to wrench the economy out of the Great Recession and promote greater growth and consumption. Now as economic indicators like low unemployment and increased consumer spending tick toward the positive, many economists are pointing to a limited rate hike as a way to move the economy towards normalcy after the volatility of the past decade..." Link