Holding the federal funds rate at 1% in early 2004 — nearly three years after the 2001 recession ended, while the economy and inflation were rising — represented a long period where rates were the lowest in the previous 40 years, amounting to injecting too much money into the banking system.
factualpending
Speaker
John TaylorEvidence Quote
“in 2004 early part of 2000 for the federal funds rate was still at 1 percent one percentage point and that's really it almost three years after the recession had ended in 2001 so you've got a long period of time where the economy is moving up inflation is moving up and the interest rate is still held at a very low level”
Created: 6/15/2026, 9:20:12 AM
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