01 / uncertainty

20 Sept 2017

I think we don’t fully understand why there are so many places where the long-term interest rate is more responsive to what the central bank in Washington does than what the central bank in their capital city does.

“I think we don’t fully understand why there are so many places where the long-term interest rate is more responsive to what the central bank in Washington does than what the central bank in their capital city does.”

Speaker: Larry Summers
Episode: Larry Summers on Macroeconomics, Mentorship, and Avoiding Complacency (Live)
Publisher: Conversations with Tyler

What Larry said.

I think we don’t fully understand why there are so many places where the long-term interest rate is more responsive to what the central bank in Washington does than what the central bank in their capital city does.