Published on Gold Anti-Trust Action Committee (http://www.gata.org)

With rates low, Fed officials fret over next recession

By cpowell
Created 2018-02-24 22:26

By Jonathan Spicer and Ann Saphir
Saturday, February 24, 2018

Federal Reserve policymakers are fretting that they could face the next U.S. recession with an arsenal of policies little different from that used in the last downturn but robbed of much of their punch because interest rates are still low.

In the midst of an unprecedented leadership transition, Fed officials are publicly debating how to prepare for the next downturn. Should they scrap their approach to inflation targeting? How big of a balance sheet should they retain? How much further can they raise interest rates and still keep the economy on a growth path?

... Dispatch continues below ...


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All this comes against a backdrop of an unexpectedly large boost from tax cuts and government spending that will drive up deficits, leaving less room for a fiscal rescue in the next recession.

"The thing that keeps me up at night is that when that next recession happens, and hopefully not for a long time, I don't think we have as strong a toolkit as we would like to have to respond to that," San Francisco Federal Reserve Bank President John Williams said Friday at a Town Hall Los Angeles event. ...

... For the remainder of the report:

https://www.reuters.com/article/us-usa-fed/with-rates-low-fed-officials-... [2]

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