Summers and Stansbury warn of ‘black hole’ as central bankers debate solutions
Economists say they hope for revolutionary thinking at Jackson Hole conference
Economists Larry Summers and Anna Stansbury warn monetary policy is being sucked into a “black hole”, and central bankers may not have the tools to escape. The intervention comes as the annual Jackson Hole conference is set to kick off.
“Black hole monetary economics – interest rates stuck at zero with no real prospect of escape – is now the confident market expectation in Europe and Japan, with essentially zero or negative yields over a generation. The United States is only one recession away
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com