“Policy projections suggesting that rates may not be raised for . . . close to three years are creating a dangerous complacency,” Summers said

Summers said monetary and fiscal policymakers had “underestimated the risks, very substantially, both to financial stability as well as to conventional inflation of protracted extremely low interest rates”.

FT 18 May 2021

https://www.ft.com/content/9935be40-d041-4b7d-acac-4d86f3c25100





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