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Federal Reserve Bank of Philadelphia
Economic Insights
The Policy Perils of Low Interest Rates
Lukasz A. Drozd

Well before central banks slashed rates to fight the Great Recession, long-term market rates began slipping. With no reversal in sight, will policymakers lose their main recession-fighting tool?

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Lukasz A. Drozd, "The Policy Perils of Low Interest Rates" , Federal Reserve Bank of Philadelphia, Economic Insights, volume 3, issue 1, pages 1-10, Q1 2018.
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Keywords: interest rates; recession
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