The Jury's Out on Cutting Interest Rates

I think the jury's out on monetary policy for another decade or more. The whole retirement income industry doesn't quite know how to operate with interest rates that are negligible, because they've never had to do it before. So cutting rates has been folly in the last few years. People of impeccable economic credentials have been saying we ought to put more weight on fiscal policy. And if something needs to be done, then there's a role of a fiscal policy.