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Has Quantitative Easing Worked?
Has Quantitative Easing Worked? - Trends
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There is an interesting (albeit wonky) discussion in this month’s Monetary Trends, published by the Federal Reserve Bank of St. Louis. Its titled The First U.S. Quantitative Easing: The 1930s . Excerpt: “The term “quantitative easing” became popular jargon in 2009. After setting the target for the federal funds rate at a range of zero to 25 basis points on December 28, 2008, the Federal Open Market Committee announced its intent to purchase up to approximately $1.7 trillion of agency debt, agency-guaranteed mortgage-backed securities, and Treasury securities. The Treasury collaborated, buying for its own account ...
“Well there’s two big issues at work here”, pipes up someone from the back in a heavy Scottish brogue. “Clean up the banking system so this never happens again and sort out the economy.” “And ‘ow are we going to do zat?” asks the short Frenchman. “Well, we’ve all agreed the banks need sorting out and we now have a plan, don’t we Mr. President?” says the Scotsman. “You talking to me?” the United States of America’s First Black President splutters. “First, we are going to slap the banks around their cheeky little chops with new regulations that will stop them taking excessive risks,” says ... Read More
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HAS QUANTITATIVE EASING WORKED?
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