Naked of shock could push economies against the zero lower bound. If it is correct that equilibrium rates in the United States and globally may be lower Going Forward than they have been historically. I think we will have to worry about these episodes more often. Of course, often there are other tools besides monetary poll 60 mime Monetary Policy has bore the brunt of responding. I think if greaters had more fiscal scope than there would be a large tool kit to respond to the zero lower bound. It seems to include nor structural bands although the situation is improving slightly. On the tendential Interest Rates. Research has been done to the one youre alluding to and points to that direction as well. Let me take you one circle further, youve beautifully demonstrated the efforts that have been undertaken from a macro prudential view. This universe being restrictive and well supervised as it is how generated the creation of parallel universes. Im just thinking of huge janet with the tool
Canter the majority leader. In essence we have the number two republican and number two democrat on board in terms of whach were trying to do to show bipartisan forward marchs. With that diana. Its still fred. Thank you. Im happy to partner with you in this important effort. The 21 Century Cures Initiative is an exciting effort that has the potential to impact Bio Medical Research. The United States has been a leader for decades where we can Work Together to improve health and medicine or we can round behind. They we bring experts to the table to dig into how we can more effectively and efficiently tackle some of the complex challenges in medicine. As fred noted, research and innovation runs on a short of cycle, development, dlify. Its in those areas that we want to focus our attention and kese input of the distinguished leader in our panel today. The questions were focusing on will be key to beginning our work toward possible solutions to these complex challenges. First, we need to ta
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