Guynn on growth in a time of low interest rates

- Central Banking staff
- 05 Mar 2004

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In a speech on 'Growth in a Time of Low Interest Rates' given on 4 March, Jack Guynn of the Federal Reserve Bank of Atlanta said the steep interest-rate cuts of 2001 and 2002 were not neutral monetary policy. Rates were reduced in response to a substantially weakened economy but as the economy returns to more normal rates of growth, interest rates will adjust.

"While we've seen how accommodative monetary policy can cushion the downside of an economic cycle, it will be appropriate at some point

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