AUG 28, 2015
The Federal Reserve faces a "very tough" task in normalizing monetary policy, as it has limited tools at its disposal after years of near-zero interest rates, academic and writer Nassim Taleb said Friday.
"They inherited that big machine without weapons. They realize that interest rates at zero is not something normal. And there's no evidence that zero interest rates is better than 3 percent. But how to get to that normal level is going to be a very, very tough task for them," the author of "The Black Swan" said.