Home About Latest Browse RSS Advanced Search

Federal Reserve Bank of San Francisco
FRBSF Economic Letter
The Future Fortunes of R-star: Are They Really Rising?
John C. Williams
Abstract

In the current economic environment, it’s important to distinguish between the strong economic conditions and the key longer-run drivers underpinning interest rates. Three factors—demographics, productivity growth, and the demand for safe assets—all point to the natural rate of interest, known as r-star, remaining low for quite some time. The following is adapted from a speech by the president and CEO of the Federal Reserve Bank of San Francisco to the Economic Club of Minnesota in Minneapolis on May 15.


Download Full text
Cite this item
John C. Williams, "The Future Fortunes of R-star: Are They Really Rising?" , Federal Reserve Bank of San Francisco, FRBSF Economic Letter, number 13, 2018.
More from this series
JEL Classification:
Subject headings:
For corrections, contact Federal Reserve Bank of San Francisco Research Library ()
Fed-in-Print is the central catalog of publications within the Federal Reserve System. It is managed and hosted by the Economic Research Division, Federal Reserve Bank of St. Louis.

Privacy Legal