TOP FED OFFICIAL HITS OUT AT LOW RATES

Tuesday 7th February 2012, 2:40am

Years of ultra-low interest rates, which the Federal Reserve is advocating, distort and damage the economy by hitting savers and paring back savers’ spending at a time when consumers are increasingly reluctant to borrow, St Louis Fed president James Bullard argued yesterday. As a result, current policies will fail, he said.


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