From the mid-1980s to 2020, neutral interest rates, real and nominal, steadily declined. When the fight against inflation is won, what can we expect neutral rates to be? Olivier Blanchard (PIIE) and Lawrence H. Summers (Harvard University) discussed at a virtual event, followed by a Q&A with PIIE president Adam S. Posen.
Read Olivier Blanchard's latest book for more analysis on the implications of low interest rates for fiscal policy.
C. Fred Bergsten Senior Fellow, PIIE
Lawrence H. Summers
Charles W. Eliot University Professor and President Emeritus, Harvard University