But the real problem is that the economy is not responding to lower interest rates.

But this is not the only possible way in which the economy might respond to the upward shift of the aggregate demand curve.

The railways were a fact and the economy responded directly to that fact.

So the question of whether we're going to have a longer-term bear market has to do with the way the economy responds.

Despite big reductions in official interest rates, the economy was not responding as it would be expected to.

As to where interest rates go from here, that depends a lot on how consumers and the economy respond to the terrorist attack.

"Over the past four years, the economy has responded with dynamism and optimism."

The nation's sick economy was not responding to the Fed's low-interest-rate medicine, he said.

If we actually got a hard landing, the Fed would lower rates and the economy would respond.

It also assumes that the economy would have responded according to Hoyle.