Ultra-low rates hampered productivity in US, researchers find

A slower pace of policy normalisation can help boost productivity and growth

US Federal Reserve building

The record low interest rates implemented by the Federal Reserve in the wake of the financial crisis 2008–09 have reduced productivity growth, research published by the Fed shows.

Innovation, Productivity, and Monetary Policy by Patrick Moran and Albert Queralto examines to what extent monetary policy can impact business innovation and productivity growth.

As productivity has slowed since the financial crisis, the role of innovation and business dynamism has become a focal point for

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.