'Zombie consumers are huge beneficiaries of the Fed's continued monetary stimulus,' said Stephen Roach, a senior fellow at Yale University.
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 at Yale University and the former chairman of Morgan Stanley Asia. Visit Markets Insider for more stories.
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 at Yale University and the former chairman of Morgan Stanley Asia. Visit Markets Insider for more stories.
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