On the recordJune 20, 2016
One of my concerns is that the inducement to expand capacity, the unnatural excess capacity that comes from unnaturally low interest rates, could get the Fed into a kind of vicious cycle.
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congress.govOne of my concerns is that the inducement to expand capacity, the unnatural excess capacity that comes from unnaturally low interest rates, could get the Fed into a kind of vicious cycle.
Toomey expresses concern about low interest rates creating economic issues.
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I have no doubt that a few years after these projects are completed, transit agencies will come back to Congress pleading for still more subsidies to operate systems that have become far too large for the demand.
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