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Dudley, William C. on 2018 April 16 at 10:00

I don't know what neutral is precisely, but I think 3% is a reasonable starting point in terms of thinking about what neutral might be over the long run.

I don't know what neutral is precisely, but I think 3% is a reasonable starting point in terms of thinking about what neutral might be over the long run. But it depends on so many other factors. What's happening to the stock market, what's happening to the bond market, what's happening to the dollar. So this idea that there's this magic neutral rate that's sort of constant for all time I think is not a good way of looking at it. Dudley, William C.

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