Horwitz, Steven (2013) The Fed’s monetary policies since 2008 have undermined the creation of a growth-producing economic environment. LSE American Politics and Policy (USAPP) Blog (03 Sep 2013). Website.
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Abstract
In June, much to the consternation of financial markets, the Chairman of the Federal Reserve, Ben Bernanke, warned that the current program of Quantitative Easing (QE) would likely to come to an end in 2014. But has this measure been effective in stimulating recovery? Looking at QE’s record, Steven Horwitz argues that by paying a small amount of interest on reserve balances, the Fed has discouraged banks from lending, leading to a de facto bailout program. Now, the Fed faces the very real problem of how to avoid inflation as QE ends and recovery begins.
| Item Type: | Online resource (Website) |
|---|---|
| Official URL: | http://blogs.lse.ac.uk/usappblog/ |
| Additional Information: | © 2013 LSE USAPP |
| Divisions: | LSE |
| Subjects: | H Social Sciences > HB Economic Theory H Social Sciences > HC Economic History and Conditions J Political Science > JK Political institutions (United States) |
| Date Deposited: | 23 Jun 2014 13:31 |
| Last Modified: | 13 Sep 2024 18:39 |
| URI: | http://eprints.lse.ac.uk/id/eprint/57197 |
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