Farewell QE, you have been a magnificent success:
The moral contours of QE depend on your angle of vision. But would you rather be surrounded by mass unemployment?
-Ambrose Evans-Pritchard, the Telegraph, Dec. 18.
Outgoing Federal Reserve Chairman Ben Bernanke managed to thread the needle yesterday, announcing a modest monthly taper in quantitative easing of “only” $10 billion dollars, while leaving the remaining $75 billion in monthly bond purchases untouched. He also suggested the Fed will keep rates accommodative — read very low — for even longer than previously promised.
Rather than crash (as was so widely predicted), the markets took off: The Dow industrials up 1.84 percent (292.71 points), while the S&P 500 gained 1.66 percent.
While we do live in interesting, even fascinating times, these many disparities raise this interesting question: Why do so many people hate QE?
Here are the six best answers to that question I can muster . . .
Category: Federal Reserve
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
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