The global economy is tumbling into a self-fulfilling “low-growth trap” that could see loose monetary policy do more harm than good, according to the Organisation for Economic Cooperation and Development (OECD). The economic recovery will not pick up this year, said OECD chief Angel Gurria, with the organization pointing a finger at rich governments that have failed to resuscitate demand after the 2008 financial crisis. The organization also said countries need to be worrying less about the wage gap and more about jobs in general — and policies to boost jobs and productivity in specific, according to the Financial Times (paywall).