Crises fueled by bank runs, starting with the Great Depression, have had something in common: Unexpected changes spur bank failures, followed by general panic and then large-scale economic distress.
- Professor of Finance and Business Economics, University of Southern California
Although many say the economic outlook for next year appears bleak, there is room for optimism.
The Fed lifted its benchmark interest rate by half a percentage point as it fights raging inflation.
Higher interest rates reduce demand for goods and services, which makes it harder for companies to raise prices. But there are risks as well.
The Fed’s decision to cut interest rates for the first time since 2008 could lead to economic policies that are even more reckless.
Contact Rodney for
- General
- Media request
- Speaking request
- Consulting / Advising
- Research collaboration
- Research supervision
- Location: Los Angeles, California, U.S.
- Website
- Article Feed
- Joined
