# Professor Michael Spence discusses the impact of increased leverage in global markets

1 Faculty News October 6, 2015 ![Bloomberg logo](/sites/default/files/styles/246w/public/assets/images/bloomberg_0.jpg?itok=qy2YlnxP)>

Excerpt from [Bloomberg](http://www.bloomberg.com/news/videos/2015-10-06/the-fed-s-fear-of-being-wrong-in-hiking-interest-rates) -- "The global economy is levering up rather than the reverse. There's a useful McKinsey Global Institute study that documents that. That's not the direction we want to go. We don't want to try to create additional demand by levering up."

[Watch the video](http://www.bloomberg.com/news/videos/2015-10-06/the-fed-s-fear-of-being-wrong-in-hiking-interest-rates)