Nobel Laureate Spence 'Not a Fan' of Low Interest-Rate Environment

The speaker expresses concern over the prolonged period of low interest rates, which can lead to increased leveraging and economic vulnerability. They highlight the Federal Reserve's challenges in navigating uncharted economic conditions and suggest that fiscal authorities should take the lead in economic adjustments rather than relying on monetary policy. The speaker emphasizes that the US economy, despite slowing due to global factors, does not require a significant stimulus at this time.

What is the speaker's stance on fiscal authorities versus central banks?

What reasons does the speaker give for not needing a big stimulus at the moment?