Axa CEO Invites Taper as End of ‘Financial Repression’
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Axa SA Chief Executive Officer Henri de Castries said France’s largest insurer would welcome steps by the U.S. Federal Reserve to scale back monthly asset purchases that have depressed bond yields.
“One of the reasons for which, not only me, but we as insurers, are comfortable with the fact that the Fed would start to taper is very, very simple: The long-term interest rates are too low,” de Castries said in a Sept. 13 interview in New York.