Conflict of interest: have low cash rates created the ‘everything bubble’?

In new book The Price of Time, economist Edward Chancellor explores the role central banks have played in the snowballing challenges of the past quarter century

Twenty years ago, a youngish economist destined to become a household name in Australia issued a warning to central banks everywhere.

[L]owering rates or providing ample liquidity when problems materialise but not raising rates as imbalances build up, can be rather insidious in the longer run," he said.