Manhattan Moment: One word hurting growth: Zero

Published April 5, 2012 4:00am ET



The Dodd-Frank and Obamacare laws clock in at nearly 5,000 pages between them. But it takes just one word to throw enough uncertainty into the economy and stave off growth: “zero.”

Going on four years now, the Federal Reserve has been doing something it’s never done before: It has kept a key interest rate, the Fed funds rate, as close to zero as possible.

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