Tuesday, August 26, 2008

Feldstein Says Low Rates May Not Boost U.S. Growth

(Bloomberg) Harvard University economist Martin Feldstein, a member of the committee that charts American business cycles, said the Federal Reserve cannot count on low interest rates to buoy economic growth.

``Lower interest rates are not going to get us anything more,'' Feldstein, who retired in June as president of the National Bureau of Economic Research, said today in a Bloomberg Television interview. ``The economy has really shown one sign after another of weakening.''

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