Williams: weak productivity, population growth keep rates low

John Williams
Shell Jiang

Lower productivity and demographic growth are preventing the US economy from expanding faster and producing higher inflation, as well as holding down short- and long-term interest rates, John Williams said at a conference on October 5.

“In the new world of moderate economic growth, we all need to plan for relatively low rates for the foreseeable future,” said Williams. “I view a gradual pace of increases over the next two years, bringing the federal funds rate to its new normal of 2.5%, to be

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