Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 34 n° 316

How high will interest rates go?

Posted by fidest press agency su martedì, 8 febbraio 2022

This week we look at the big worry hanging over the world economy: the future of interest rates. As inflation spikes, there is a growing sense that the Federal Reserve has lost its way. It appears as if America’s central bank is about to make an abrupt change of course by tightening monetary policy hard and fast. That prospect has battered stockmarkets. It has also led many firms and homeowners to ask if the long era of low rates is now over. For an answer, they need to look beyond Jerome Powell to the forces driving the economy. Monetary policy is anchored around the neutral rate of interest, the price of money needed to balance the global appetite to save with the desire to invest. As we explain, although there are signs of a pick-up in investment, the world’s ageing population should ensure that a plentiful supply of savings will keep a cap on long-term rates. As the world enters a sharp and potentially painful series of interest-rate rises, take what comfort you can. Zanny Minton Beddoes Editor-In-Chief The Economist

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