What if interest rate hikes are doing more harm than good?
Episode 194 of Down of Business podcast
Lately, news about inflation has been positive in a good way. Compared to a year ago, when inflation was 8 per cent, the consumer price index is now at 4.4 per cent.
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That’s moving closer to the coveted two per cent target and it follows one of the fastest interest rate hiking cycles in modern history.
This week Down to Business talks to Louis-Philippe Rochon, a professor of Economics at Laurentian University in Sudbury, who takes a contrarian view of the situation. He believes that higher interest rates have not ameliorated the inflationary environment.
Throughout the past year, Rochon has been inviting economists from around the world to contribute to his Monetary Policy Institute Blog where they probe the numerous impacts of central bank policies.
He offers a pointed critique of these policies and posits that interest rates may have done more damage than good. As always the interview is edited for clarity and brevity.
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• Email: gfriedman@postmedia.com | Twitter: GabeFriedz
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