Talking Business

April 28, 2014 12:00 AM

After five years, the Fed’s low rates aren’t working any labor-market magic

The Fed’s policy of maintaining low interest rates hasn’t worked any labor market magic. That’s become another head-scratcher in what’s now one of the longest but historically slowest recoveries. Here’s a theory: Instead of hiring more people, companies are using the cheap borrowing costs to buy machinery and technology instead.

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