JPM's Kelly: No Need to Stimulate Economies

The transcript discusses the current economic expansion, noting a soft landing in the U.S. and potential for continued growth into 2017-2018. However, long-term growth faces challenges due to insufficient investment and labor force growth. The debate on low interest rates suggests they may be more harmful than beneficial, potentially causing asset price inflation and recession risks. The government's role post-2008 crisis is examined, highlighting the shift of risk from private to public balance sheets. The Federal Reserve's credibility is questioned regarding rate normalization, emphasizing the need for policy adjustments.

What is the speaker's view on the role of government in stimulating the economy?

According to the text, what potential risks are associated with normalizing interest rates?