Aggressive quantitative easing should raise long-term interest rates, because effective monetary stimulus raises them.
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6 Sept 2010 · held 1 day
Scott Sumner archive turned
I predicted that aggressive QE would raise long term interest rates, a view which seemed to be refuted by the response on T-bond yields to the March 2009 Fed QE announcement.
I predicted that aggressive QE would raise long term interest rates, a view which seemed to be refuted by the response on T-bond yields to the March 2009 Fed QE announcement.