Skip to content
Subscriber Only

Guggenheim’s Minerd Sees Ultra-Low Rates for Rest of Decade

  • Says consensus growing for fiscal stimulus to boost economies
  • Minerd oversees $250 billion for Guggenheim Partners

Scott Minerd, who manages $250 billion for Guggenheim Partners, says investors should prepare for several more years of ultra-low interest rates amid a growing debate over whether the economic regime has changed.

Minerd said recent comments by Federal Reserve President James Bullard of St. Louis and San Francisco Fed President John Williams suggest central bankers are increasingly open to the idea that the neutral rate of interest is much lower than assumed. Williams suggested a “new orthodoxy” for monetary and economic policy, which would include negative rates, higher inflation or growth targets, and spending on infrastructure, education and research, according to Minerd, Guggenheim’s chief investment officer.