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Whatever the cause, other things being equal, a lower level of the long-run equilibrium real rate suggests that the frequency and duration of future episodes in which monetary policy is constrained by the (zero lower bound) will be higher than in the past.

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Reuters 8 years ago
Stanley Fischer

Stanley Fischer

Stanley "Stan" Fischer (; born October 15, 1943) is an economist and the vice chair of the U.S. Federal Reserve System .

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    "Stanley Fischer Quotes." Quotes.net. STANDS4 LLC, 2024. Web. 25 Dec. 2024. <https://www.quotes.net/citizen-quote/157799>.

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