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Whether a central bank raises or lowers rates isn't that important.

End of the day, setting benchmark rates isn't very different from a communist dictatorship imposing price controls on goods and services 'for the common good'. In the same way they cause shortages of that particular good or service, price controls in the cost of capital will cause a shortage in capital itself.

The question is what the market-determined interest rates for savings and investments are, and how much the central bank is interfering with the market discovery process for these rates done by savers, investors, lenders and borrowers.