CSPAN2 Key Capitol Hill Hearings March 31, 2015
The idea in larrys revival of stagnation is that because Going Forward the returns to capital and Consumer Spending are likely to be weaker than theyve been in the past, that the real Interest Rate that is needed to provide full employment could be very, very low. And there are a lot of reasons as we see very low Interest Rates, and he talked about in his remarks to the association of business economics a number of reasons why the demand for capital and the demand for Consumer Spending might be unusually low Going Forward and the same ones that, essentially, you need very low Interest Rates to...