Economics & Policy Inflation and the Fed

Former senior Fed official Bill English talks about why low inflation may be driven by more persistent factors, and that negative rates could happen in the US too.

by Beat Siegenthaler 12 Apr 2019

Low inflation in the US may be driven by factors previously thought temporary but that are turning out to be more persistent, and in the next downturn the Federal Reserve may have to consider the use of negative interest rates, says William B. English, a former senior Fed official and currently Professor in the Practice of Finance at Yale School of Management. English had previously been working for the Fed's Board of Governors from 2010 to 2015 as director of the Division of Monetary Affairs and secretary to the Federal Open Market Committee, where he oversaw the development of monetary policy, working extensively on asset purchases, policy normalization, and policy communication.

Bill English spoke to Beat Siegenthaler of the UBS Knowledge Network at the IMF Spring Meetings in Washington DC on April 12.

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The views expressed in this interview are those of the interviewee and do not necessarily reflect those of UBS.