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Sun Life CIO: US Fed "Powerless" To Stimulate Economy

By Caroline Van Hasselt Of DOW JONES NEWSWIRES TORONTO -(Dow Jones)- A top Sun Life Financial Inc. (SLF) executive says the U.S. Federal Reserve's main tool to stimulate economic growth is no longer effective. The U.S. central bank's ability to spur mortgage refinancing through low interest rates isn't possible because housing prices are too low, said Stephen Peacher, Sun Life's chief investment officer. The Fed "is powerless to stimulate the economy," he said at the Toronto Forum for Global Cities conference in Toronto. The Fed "can't do much about today's economy," he said. The average mortgage rate fell from 11% in 1983 to 5%, he said. "It doesn't work today because home prices are too low," he said. Former Fed chief Paul Volcker is "singularly responsible" for the 2008 financial crisis because "he broke the back of inflation" in the 1980s, leading to steadily declining interest rates, and rising asset prices that in turn led to excessive leverage in the financial system, Peacher said. "No good deed goes unpunished," Peacher said. -By Caroline Van Hasselt; Dow Jones Newswires; 416-306-2023; caroline.vanhasselt@dowjones.com

Stock News for Sun Life (SLF)
DateTimeHeadline
09/01/201512:35:54Report of Foreign Issuer (6-k)
09/01/201508:59:00La Financière Sun Life conclut l'acquisition du groupe Bentall...
09/01/201508:59:00Sun Life Financial completes acquisition of Bentall Kennedy Group
09/01/201508:59:00Sun Life Financial completes acquisition of Bentall Kennedy Group
08/27/201510:04:00Dean Connor, President and Chief Executive Officer, Sun Life...
08/27/201510:04:00Dean Connor, President and Chief Executive Officer, Sun Life...
08/27/201510:00:00Dean Connor, président et chef de la direction, Financière S...
08/17/201507:30:00Sun Life Financial joins Mercer Marketplace(SM)
08/14/201510:33:44Form 13f Holdings Report (13f-hr)
08/06/201506:11:45Report of Foreign Issuer (6-k)
08/05/201517:12:00Sun Life Financial declares quarterly dividends on Common and...
08/05/201517:12:00Sun Life Financial declares quarterly dividends on Common and...
08/05/201517:10:00Sun Life Financial Reports Second Quarter 2015 Results
08/05/201517:10:00La Financière Sun Life annonce ses résultats du deuxième trimestre de...
08/05/201517:10:00Sun Life Financial Reports Second Quarter 2015 Results
07/24/201517:00:00Placements mondiaux Sun Life réduit les frais de gestion applicables...
07/24/201517:00:00Sun Life Global Investments reduces management fees for Sun Life...
07/23/201510:00:00Conférence téléphonique de la Financière Sun Life sur ses rés...
07/23/201510:00:00Sun Life Financial hosts second quarter 2015 earnings conference...
07/23/201510:00:00Sun Life Financial hosts second quarter 2015 earnings conference...

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