A prolonged period of tepid economic growth will negate any need for the Federal Reserve to raise rates well into the future, former central bank governor and Columbia University economics professor Frederic Mishkin told CNBC.
Continued problems with banks and other areas of the economy will keep growth to a minimum for as much as three years, Mishkin said, echoing forecasts of a “new normal” from economists who don’t see inflation as a threat.
Categories: Market News
