Rather than improve economic outcomes, I worry that the FOMC is inadvertently adding to “uncertainty” by taking such actions. Remember, high interest rates did not cause the financial crisis or the recession. Let me summarize four key points that I judge relevant in choosing among monetary policy options.
This has served as a strong impetus for prompt repayment of loans, and created a good environment for consumer credit growth in China. Student loan is a major policy measure taken by the government to improve the higher education financing policy system and a strategic measure that bears on China’s future development.