The Institutional Risk Analyst

May 13, 2018 | Why is economic growth so modest in the United States given the low levels of interest rates? Or as Jim Glassman of JPMorganChase (JPM) wrote last week: "According to popular theory, Treasury yields should be much higher than they are, given the current rate of GDP growth." Remember when regulators talked about a nonsense called "macroprudential" policy? The short answer to the riddle of growth vs interest rates posed by Jim Glassman is excessive regulation.