Larry Summers Calls Fed Bank Stress Test Results ‘Absurd’
&gt; Summers made the comments after a presentation at the Federal Reserve Bank of Boston on the persistence of low interest rates in global economies, a phenomenon which he explained as excess savings pursuing a shortage of investments.<p>So central banks printing trillions of dollars (aka Quantitative Easing) to prop up asset prices (and thereby drastically increasing income inequality in developed countries) had nothing to do with record low interest rates?<p>These people sure have a way of &quot;explaining&quot; things without really explaining anything at all.