Former central banker William White warns that the US and other major developed economies are in a debt trap where they are unable to raise interest rates for fear of triggering the very crisis they are trying to avoid.
Canadian economist, William White was chairman of the Economic and Development Review Committee at the OECD from 2009 to 2018 and is best known for warning of the wild behavior in the debt markets before the global financial crisis in 2008.
Danielle DiMartino Booth is founder & CEO of Quill Intelligence. A former adviser to Richard Fisher at the Dallas Fed, she is also the author of Fed Up: An Insider’s Take on Why the Federal Reserve is Bad for America.