Journal Article
The Future Fortunes of R-star: Are They Really Rising?
Abstract: In the current economic environment, it?s important to distinguish between the strong economic conditions and the key longer-run drivers underpinning interest rates. Three factors?demographics, productivity growth, and the demand for safe assets?all point to the natural rate of interest, known as r-star, remaining low for quite some time. The following is adapted from a speech by the president and CEO of the Federal Reserve Bank of San Francisco to the Economic Club of Minnesota in Minneapolis on May 15.
Access Documents
File(s):
File format is application/pdf
https://www.frbsf.org/economic-research/files/el2018-13.pdf
Description: Full text
Authors
Bibliographic Information
Provider: Federal Reserve Bank of San Francisco
Part of Series: FRBSF Economic Letter
Publication Date: 2018
Order Number: 13