Sir, Lawrence Summers argues that one of the reasons to heed the fears of financial markets is because with rates essentially at zero in the industrial countries, the option to lower them in response is no longer available (Comment, January 11). Think about that for just a second. If this is truly the case, watch long suffering small savers who have endured artificially induced minute yields wind up finally having their hour in the sun as they receive a bit of a hand from at least some central bankers, however big or small it may prove to be. It’s about time.
Jonathan P Kahn
New York, NY, US