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Federal Reserve leaders warned of monetary policy’s “long and variable” lags numerous times in 2023. This term refers to the unpredictable speed at which interest rate changes can affect the economy. The higher borrowing costs that come with the Fed’s decisions may slow economic growth for long periods of time. And in the short term, businesses and households may contend with moderately higher cost loans.
Harry Miller is a writer and editor based in Toronto who has Ten years of experience in the journalism industry. Before coming to Canada News Media as a National Online Journalist, Miller worked as a senior writer and a reporter-editor with the Canadian Press and a breaking news reporter with the Toronto Star. Miller currently holds two bachelor’s degrees, one in journalism from Ryerson University and another in communications and film studies from Carleton University.
