# Professor Viral Acharya's thoughts on highly accommodative monetary policies are highlighted

1 Faculty News November 14, 2019 ![Financial Times logo](/sites/default/files/styles/246w/public/assets/images/uat_025699.jpg?itok=5SpaxEbn)>

Excerpt from [Financial Times](https://www.ft.com/content/96d7c068-0612-11ea-a984-fbbacad9e7dd) -- "A new economics note offers a reasoned argument against ultra-low interest rates; it is the most elaborate version of the so-called 'zombie effect' I have seen. [Viral Acharya](https://www.stern.nyu.edu/faculty/bio/viral-acharya) argues that low rates keep 'zombie firms' alive — these are commercially non-viable companies that only stay out of bankruptcy because banks 'evergreen' their loans at ultra-low rates rather than foreclose."

[Read More](https://www.ft.com/content/96d7c068-0612-11ea-a984-fbbacad9e7dd)