Kohn with reflections on globalization & policies

In the speech 'Reflections on globalization and policies' given on 6 July Donald Kohn of the Federal Reserve said he was aware of the risk of raising rates more than necessary but saw a need for higher global interest rates to maintain stability.

"A rise in global interest rates is a necessary condition ... for stability going forward," Kohn told a seminar arranged by the European Economic and Financial Centre in London.

"Global interest rates have been very low for a number of years. We have had

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