Post Crisis Rates Feed `Wealth Gains' for the Rich, Nordea Says
- Central bankers could explore more tools, top economist says
- Nordea’s new head of economic research discusses central banks
Copenhagen, Denmark.
Photographer: Ulrik Jantzen/Bloomberg
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The new global head of macro research at Nordea Bank AB says it’s now clear that the historically low interest rates that followed the global financial crisis have led to “wealth gains” for the rich while others are more indebted.
Kristin Magnusson Bernard, who used to work with financial stability at the European Central Bank, says the lessons learned from cutting interest rates to historic lows mean policy makers may well look to new tools to support economies in the future.