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Award-Winning Economist Joseph Stiglitz Talks About Interest Rate Hikes
Nobel Prize-winning economist Joseph Stiglitz warned that raising interest rates could exacerbate supply-side problems rather than
Yazar: James Gordon
Yayınlanma: 26 Ağustos 2022 09:25
Güncellenme: 8 Kasım 2024 08:50
Award-Winning Economist Joseph Stiglitz Talks About Interest Rate Hikes
Nobel Prize-winning economist Joseph Stiglitz warned that raising interest rates could exacerbate supply-side problems rather than solve them and that standard rate hikes could worsen inflation.
Nobel Prize-winning economist Joseph Stiglitz argued that central banks that raise interest rates too aggressively to alleviate supply-side inflation are triggering price increases. Columbia University professor Stiglitz said, "Raising interest rates does not solve supply-side problems. In fact, it can make them worse because more investment is needed to address supply shortages. But raising interest rates makes these investments more difficult." Referring to the US housing market, Stiglitz said that landlords feed the price increase by passing on the high interest cost to tenants. "How does raising interest rates contribute to producing more food and energy and solving supply problems? I don't think it will. Interest rate hikes don't get to the root of the problems, they risk worsening the situation." Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!İLGİLİ HABERLER
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