In a speech on Friday, Federal Reserve chair
Janet Yellen stayed her dovish course, maintaining that an increase in the
federal funds rate "may well be warranted later this year." She also
emphasized the Fed's data dependence, as well as her general tone of
"cautious optimism" in the economy.
In April 2014, Brown University economists Gauti Eggertsson and Neil Mehrotra published a comprehensive model of secular stagnation, showing how income inequality and a drop in population growth could lead the economy's ideal interest rate to fall.
In April 2014, Brown University economists Gauti Eggertsson and Neil Mehrotra published a comprehensive model of secular stagnation, showing how income inequality and a drop in population growth could lead the economy's ideal interest rate to fall.
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