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2016-02-05

Roubini: The New Abnormal

Economic policies — especially monetary policies — have become increasingly unconventional. Indeed, the distinction between monetary and fiscal policy has become increasingly blurred. 

Ten years ago, who had heard of terms such as ZIRP (zero-interest-rate policy), QE (quantitative easing), CE (credit easing), FG (forward guidance), NDR (negative deposit rates) or UFXInt (unsterilized FX intervention)? 

No one, because they didn’t exist.

Inflation is still too low and falling in advanced economies, despite central banks’ unconventional policies and surging balance sheets.

Nouriel Roubini, MarketWatch 4 Feb 2016 

Roubini at IntCom

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