Dan Kitwood/Getty Images Interest-rate cuts in the US have been cheered by Wall Street and the White House in recent months. But at a time of record consumer debt levels, economists say lower borrowing costs carry major risks. "Zombie consumers are huge beneficiaries of the Fed’s continued monetary stimulus," said Stephen Roach, a senior fellow […]
A growing legion of debt-laden ‘zombie consumers’ has been enabled by low interest rates, economists say
Dan Kitwood/Getty Images Interest-rate cuts in the US have been cheered by Wall Street and the White House in recent months. But at a time of record consumer debt levels, economists say lower borrowing costs carry major risks. "Zombie consumers are huge beneficiaries of the Fed’s continued monetary stimulus," said Stephen Roach, a senior fellow […]