Dec 4, 2007

Bruce Kasman: Jury still out on 1% Fed funds rate in 2002

The fact that the Fed fund rate went down to 1 percent in 2002 was an important part of the latter stages of the housing boom. It wasn't the only thing, and it wasn't necessarily a bad thing. In the end, we're going to look back at what happens next to recognize what the trade-offs were.

~ Bruce Kasman, chief economist at JPMorgan Securities, "Greenspan Has No 'Regrets' as Housing Slump Deepens,", November 23, 2007

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