# Professors Nouriel Roubini and Kim Schoenholtz's comments on the Federal Reserve's monetary policy are highlighted

1 Faculty News December 23, 2015 ![International Business Times logo](/sites/default/files/styles/246w/public/assets/images/con_031078.jpg?itok=fjxsC0VP)>

Excerpt from [International Business Times](http://www.ibtimes.com/fed-rate-hike-us-central-bank-tightens-monetary-policy-first-time-more-nine-years-2226945) -- "A growing number of high-profile economists, including [Nouriel Roubini](http://www.stern.nyu.edu/faculty/bio/nouriel-roubini) and former Treasury Secretary Larry Summers, have argued that inflation is too low and the labor market too weak to justify a rate hike. ... Though the effects of historically cheap credit are open to debate, some economists have cast Fed policy as an appropriate response to the recession. 'The Fed had enormous impact during the crisis,' said [Schoenholtz](http://www.stern.nyu.edu/faculty/bio/kim-schoenholtz). Though the effects of monetary policy are tough to isolate, Schoenholtz said, the Fed was 'critical in preventing a second Great Depression.'"

[Read more](http://www.ibtimes.com/fed-rate-hike-us-central-bank-tightens-monetary-policy-first-time-more-nine-years-2226945)