Federal Reserve Board Chairperson Janet Yellen tells the Federal Open Market Committee meeting in Washington last month that the interest rate will remain unchanged for now. Photo: AFP
Tom Holland
Opinion

Opinion

Abacus by Tom Holland

Why low interest rates are the cause, not the cure, of developed world’s economic malaise

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Federal Reserve Board Chairperson Janet Yellen tells the Federal Open Market Committee meeting in Washington last month that the interest rate will remain unchanged for now. Photo: AFP
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Tom Holland

Tom Holland

Tom Holland is a former SCMP staffer who has been writing about Asian affairs for more than 25 years