62nd Economic Conference looks at consequences of rates too low for too long
The Federal Reserve Bank of Boston’s 62nd annual economic conference, What Are the Consequences of Long Spells of Low Interest Rates? brought together economist from around the country and across the world to discuss the Federal Reserve accommodative policy in the early-to-mid-2000s maintained interest rates that remained too low for too long a period, and thereby contributed to the financial imbalances that led to the 2007-2009 financial crisis.
Participants in this year’s conference included former official of the US Treasury and the White House National Economic Council Larry Summers, as well as Reserve Bank presidents Eric Rosengren and Loretta Mester. Other participants include university-based economists, several Central Bank economists from countries including Japan, Thailand, and Mexico, as well as industry experts from a dozen organizations.