Goodfriend on Growth, Optimism, and Long-Term Rates

The video discusses key economic indicators, focusing on productivity and GDP trends. It highlights Stanley Fischer's insights on the slowdown in economic growth and the reduction in real long-term interest rates. The discussion emphasizes the importance of real factors over monetary factors in driving economic growth, referencing the IS and LM curves.

What is the relationship between interest rates and economic optimism according to the text?

What does the speaker imply about the effectiveness of monetary policy in driving economic growth?