Zero rate!
October 29, 2008 at 07:33 AM EDT
[Skip to the end] Yes, but, of course, for the wrong reasons! They all still act and forecast as if lower rates are expansionary. This still has no support in theory or practice. Outstanding government debt means the private (non-government) sectors are net savers. Households remain net savers. Lower rates directly cuts personal income. And lowers costs for businesses including costs of [...]